Friday, September 20, 2013
Luxury Goods Help Boost August Department Store Sales 2.7%
TOKYO (NQN)--All-store sales at department stores nationwide in August were 429.1 billion yen, the Japan Department Stores Association said Friday.
Same-store sales rose 2.7% on the year, for the first year-on-year increase in two months. Sales of summer clothing remained solid due to the hot weather, and sales of high-end goods were solid.
Sales of fine art, jewelry and precious metals jumped 18.3%. The introduction of new high-end watches contributed to the increase.
Sales of duty-free items surged 87.2%, thanks to an increase in the number of overseas tourists visiting Japan. Sales of clothing rose 1.9%, with one-piece dresses and dress shirts selling well.
An official at the association said sales were solid enough to ease concerns about July's sales decline.
As for September, the official said that sales would likely be impacted by typhoons that month, but added that department stores hope to make up for it with strong sales over the three-day weekend in the second half of the month. The official also said consumers are spending more in the expectation that the economy will continue to improve and bonuses will increase.