Companies

4 Major Japanese Department Stores Post Sales Growth in March

REUTERS/Kim Kyung-Hoon
Mitsukoshi’s logo is seen on its department store in Tokyo, Japan January 30, 2018.

Jiji Press

11:06 JST, April 5, 2023

TOKYO (Jiji Press) — Four major Japanese department store operators reported sales growth for March, as the removal of COVID-19-related restrictions on people’s movements led to brisk sales of spring clothing, luxury-brand items and jewelry.

On a same-store basis, Daimaru Matsuzakaya Department Stores Co., a unit of J. Front Retailing Co., posted an 18.0% rise in March sales from a year before and Isetan Mitsukoshi Holdings Ltd. reported a 16.5% gain, according to the companies’ preliminary reports released Monday.

Takashimaya Co.’s sales rose 10.5% and Sogo & Seibu Co., a unit of Seven & i Holdings Co., saw its sales grow 9.7%.

Isetan Mitsukoshi’s sales were up 1.6% from March 2019, before the start of the pandemic.

Sales of duty-free goods, a measure of purchases by foreign visitors to Japan, were up about sixfold year on year at Isetan Mitsukoshi and marked a 5.4-fold increase at Daimaru Matsuzakaya.