Sales still falling for Japan department stores
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Japan department stores saw their sales fall 3.8 per cent year-on-year last month, continuing the trend from March when sales fell back into negative territory after a short return to growth in February.
According to the Japan Department Store Association, purchases fell in nearly all categories last month, with sundries and cosmetics reporting the best sales growth at a modest 0.7 per cent.
Household electronics sales had the most dramatic reversal, from gains of 10.7 per cent in March to plunging 20.2 per cent last month. Furniture purchases fell 12.5 per cent.
Overall, retail sales were down 1 per cent in March, the weakest reading since December.
Questions & Answers
Q.What was the overall sales decline for Japan department stores last month?
What was the overall sales decline for Japan department stores last month?
Sales for Japan department stores fell by 3.8 per cent year-on-year last month. This continues a negative trend after a brief return to growth in February.
Q.Which product categories saw the most significant changes in sales performance last month?
Which product categories saw the most significant changes in sales performance last month?
Household electronics sales saw the most dramatic reversal, falling 20.2 per cent after a 10.7 per cent gain in March. Furniture purchases also fell by 12.5 per cent last month.
Q.Were any product categories able to report sales growth last month?
Were any product categories able to report sales growth last month?
Yes, sundries and cosmetics reported a modest sales growth of 0.7 per cent. These were the best performing categories among those reported in the department stores.
Q.How did the overall retail sales for Japan perform in March compared to department store sales?
How did the overall retail sales for Japan perform in March compared to department store sales?
Overall retail sales for Japan were down 1 per cent in March. This was the weakest performance recorded since December, indicating a broader slowdown.