Japan Mar Dept Store Sales +14.1% Y/Y, 1st Gain in 3 Months

–Japan Mar Department Store Sales +14.1% Y/Y; Feb -0.4%
–Japan Sales Post First Rise In Three Months

TOKYO (MNI) – Department store sales in Japan surged 14.1% on year
in March, rebounding from a 14.7% plunge caused by the earthquake
disaster in March last year, data released by the Japan Department
Stores Association showed on Monday.

This was the first y/y gain in three months, following -0.4% in
February.

Besides the disaster impact, improvement in consumers’ sentiment,
caused by ending of both the yen appreciation and the stock price falls,
boosted demand for jewelry and other luxury goods, the association said.

The association compiles data from 86 companies running 251
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 surged 26.7% y/y
in March, posting the first gain in three months, following -1.8% in
February.

tokyo@marketnews.com
** MNI Tokyo Newsroom: 81-3-5403-4835 **

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