TOKYO (MNI) – Department store sales in Japan fell 0.5% in October,
posting the fourth straight year-on-year drop, data released by the
Japan Department Stores Association showed on Friday.
But the association said the October sales were “firm” as the
October y/y drop was relatively small, compared with -2.4% in September
and -1.7% in August.
The association said falls in temperatures boosted demand for
autumn and winter clothing, and as a slump in purchases by overseas
customers triggered by the Fukushima nuclear radiation crisis, gradually
eased.
The association compiles data from 86 companies running 254
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 1.9% y/y in
October, posting the fourth straight y/y fall but improving from -3.6%
in September.
tokyo@marketnews.com
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