TOKYO (MNI) – Sales at supermarkets in Japan open for at least a
year fell 1.3% in April from a year earlier to Y1.05 trillion, the first
year-on-year fall in three months, on weakening consumer sentiment
following the March 11 earthquake disaster, an industry group said
Monday.
Japan’s seasonally adjusted Consumer Confidence Survey index
tumbled to a two-year low as the March 11 earthquake dashed prospects
for income growth, general economic well-being and job security,
according to the recent data released by the Cabinet Office.
The closely watched index slumped to 33.1 in April from 38.6 in
March, hitting the lowest level since April 2009, when it stood at 32.0.
The downturn in supermarket store sales followed gains of 0.3% in
March and 0.6% in February.
Supermarket store sales rose 0.6% in February, snapping a 26-month
streak of year-on-year declines.
The figures are based on the combined sales at 60 supermarket
chains which together operate 8,003 outlets. The numbers have been
adjusted to facilitate comparison on a same-store basis.
Including sales at stores newly opened during the past year,
revenue rose 3.8% after, posting a rise of 3.5% in March, the first rise
in 40 months.
tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4835 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$]