Major Japanese Department Stores Post Lower Sales in March

Tokyo, April 2 (Jiji Press)--Three major Japanese department store operators on Tuesday reported declines in same-store sales in March from a year before because of lower spending by foreign visitors and sluggish demand for spring clothing amid unstable weather.

Isetan Mitsukoshi Holdings Ltd posted a 1.6 pct sales fall, while Daimaru Matsuzakaya Department Stores Co. saw its sales drop 1.2 pct. Takashimaya Co.'s sales slid 0.8 pct.

Sales of tax-free items, an indicator of purchases by visitors to Japan, dropped as their purchases expanded beyond luxury goods, company officials said.

Takashimaya’s sales of tax-free items shrank 11.5 pct, while Isetan Mitsukoshi and Daimaru Matsuzakaya posted declines of around 4 pct.

END

[Copyright The Jiji Press, Ltd.]