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TOKYO (MNI) – Combined sales at Japanese department stores in
December are forecast to be stronger than in November, possibly showing
the first year-on-year rise in six months and supporting retail sales, a
survey of major store chains by Market News International showed.
The Japan Department Stores Association will release December data
at 1430 JST (0530 GMT) on Thursday, Jan. 19.
All of the seven department store chains surveyed reported
year-on-year gains in December, thanks to lower temperatures which
boosted winter clothing sales, solid gains in year-end bonus payments
and firm demand for luxury items.
This is an improvement from November, when three groups reported
increases on the year and four told MNI that their sales declined.
Department store sales in Japan fell 1.9% in November as mild
weather conditions hurt winter clothing sales, posting the fifth
straight year-on-year drop after -0.5% in October, the association said
last month.
Meanwhile, in the first half of January, department store sales
were slightly weaker than in December, according to MNI’s survey.
Three out of the seven department store chains surveyed said their
sales rose y/y in early January, three groups reported declines, and one
saw no growth from a year earlier.
On the bright side, the recent slump in purchases by overseas
customers triggered by the Fukushima nuclear radiation crisis seems to
be easing further.
Sales to Chinese customers at Matsuya rose about 35% y/y in a
period between Jan. 1 and 13, up from +17% in December, a company
spokesman said.
skodama@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4838 **
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