— Japan Store Sales Post 3rd Straight Y/Y Drop Vs. -1.2% in June
TOKYO (MNI) – Department store sales in Japan fell 3.3% in July,
the third straight year-on-year drop, hit by bad weather conditions and
low temperatures in the first half of the month, data released by the
Japan Department Stores Association showed on Tuesday.
It followed -1.2% in June, -1.0% in May and +1.3% in April.
The effect of one less Saturday compared with the same month of
2011 and the slower start of summer sales at some stores pushed down
July sales, the association said.
But demand for jewelry and other luxury goods remained relatively
firm, showing a limited fall of -0.3% on year.
The association compiles data from 86 companies running 249
department stores that have been open for at least a year prior to the
survey being conducted. The data are adjusted to facilitate comparisons
on a same-store basis.
In Tokyo, combined sales at 26 department stores fell 1.0% on year
in July, posting the second straight y/y fall after -0.1% in June and
+2.1% in May.
tokyo@marketnews.com
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