3 Major Japanese Dept. Store Biz See Sales Grow in March

Economy

Tokyo, April 1 (Jiji Press)--Three of Japan's four major department store operators posted year-on-year growth in same-store sales in March, backed by brisk sales of luxury goods to visitors from abroad, the companies said Monday.

Some chains launched sales of items linked to the country's next era name, Reiwa, as soon as it was announced in the late morning.

"We expect that the celebratory mood will spark consumption," said an official of Takashimaya Co. <8233>. Reiwa will replace the current era, Heisei, on May 1, in line with Crown Prince Naruhito's accession to the throne.

In March, sales at Takashimaya grew 1.2 pct.

Sale rose 0.9 pct at both Isetan Mitsukoshi Holdings Ltd. <3099> and J. Front Retailing Co. <3086>, which runs the Daimaru and Matsuzakaya stores.

[Copyright The Jiji Press, Ltd.]

Jiji Press