3 of 4 Major Japanese Department Stores See Feb. Tax-Free Sales Grow
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Tokyo, March 1 (Jiji Press)--Three of four major Japanese department store operators posted year-on-year growth in same-store sales of tax-free goods for foreign tourists in February, data from the companies showed Friday.
Sales during the Lunar New Year holidays were strong despite concerns about a Chinese economic slowdown due to trade tensions between Washington and Beijing.
Sales of tax-free goods at Takashimaya Co. <8233> rose 8.6 pct.
Tax-free item sales grew 17 pct at J. Front Retailing Co. <3086>, which runs Daimaru and Matsuzakaya stores, and about 10 pct at Sogo & Seibu Co., a unit of Seven & i Holdings Co. <3382>.
Demand for luxury women's clothing and cosmetics was particularly strong.
[Copyright The Jiji Press, Ltd.]