4 Major Japanese Dept. Stores Enjoy Sales Growth in Dec.

Jiji Press

12:41 JST, January 5, 2023

Tokyo (Jiji Press)—Four major Japanese department store operators Wednesday reported same-store sales growth in December 2022, citing robust demand for Christmas cakes and gifts and active spending by visitors from abroad.

J. Front Retailing Co. saw sales expand 9.5 pct from a year before at its directly operated Daimaru and Matsuzakaya stores, according to preliminary data.

Sales rose 8.6 pct at Isetan Mitsukoshi Holdings Ltd. stores, 4.6 pct at Takashimaya Co. stores and 1.6 pct at stores of Sogo & Seibu Co., a Seven & i Holdings Co. unit.

Handbags and jewelry also sold well. The flagship Isetan store in Tokyo’s Shinjuku Ward logged single-day sales of ¥1.6 billion on Christmas Eve.

New Year’s sales at department stores made a solid start in the first absence of COVID-19 restrictions on business and other activities in three years.

Sales from Monday to Tuesday grew about 10 pct year on year at Isetan Mitsukoshi, Takashimaya and Daimaru and Matsuzakaya. Sogo & Seibu logged 5 pct growth for the three days from Sunday.

In December, duty-free sales to visitors from abroad jumped 10.8-fold at Daimaru and Matsuzakaya, eightfold at Isetan Mitsukoshi, 4.7-fold at Takashimaya and 2.3-fold at Sogo & Seibu.