Japan Dept. Stores See Limited Holiday Sales Growth

Economy

Tokyo, May 7 (Jiji Press)--Four major Japanese department store operators had only limited year-on-year sales growth in the just-ended, unprecedented 10-day holiday period, data from the companies showed Tuesday.

The increases were limited to single digits at all four firms. Foreign people avoided visiting Japan during the period due to soaring travel costs, said an official of Isetan Mitsukoshi Holdings Ltd. <3099>.

The extended Golden Week holiday period ran between April 27 and Monday, during which the Imperial succession was carried out and the country's era name changed to Reiwa from Heisei.

Sales at J. Front Retailing Co. <3086>, which runs Daimaru and Matsuzakaya stores, climbed some 7 pct from the 10 days that started on April 28 last year, while those at Isetan Mitsukoshi rose some 3 pct.

"Sales didn't grow as much as we had expected as they were affected by the bad weather in the first half of the holiday period," a Takashimaya Co. <8233> official said.

[Copyright The Jiji Press, Ltd.]

Jiji Press