4 Major Japanese Department Stores Post Sales Growth in March
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.
"Business" POPULAR ARTICLE
-
China Struggles to Develop Passenger Jet to Rival Boeing, Airbus; Russian Cooperation Falls
-
JR East Eyes Freight-Only Cars for Shinkasen Trains as Japan Logistics Industry Suffers from Labor Shortage
-
JR East Employee in His 70s Earns Doctorate on Safe Train Operations; Believes Accidents Caused by Human Error Can Be Reduced
-
Japanese Cosmetics Firms Competing with South Korean Brands over Inexpensive Products; South Korean Brands Dominating Market Through Social Media
-
Japanese Automakers Team Up on Software Development; Aim to Compete with U.S., China in SDV Market
JN ACCESS RANKING
- Harris Widens Lead over Trump to 47%-40%, Reuters/Ipsos Poll Finds
- Japan-S. Korea Exchange Festival Held in Seoul
- Japan Trying to Draw Digital Nomads, Who Are Seen as Beneficial to Economy, Society
- JICA Employee Suspected of Leaking Info on ODA Project in Manila; Bidding for Railway Renovation May Have Been Impacted
- Asukayama Monorail in Tokyo: Free to Ride!