Japan Dept. Store Sales Slow in May despite 10-Day Holiday
Tokyo, June 3 (Jiji Press)--Japan's four major department store operators posted sluggish same-store sales in May, despite the 10-day holiday related to the Imperial succession, according to preliminary data released by the firms on Monday.
Industry watchers had expected a surge in sales as the 10-day period added two more holidays in May this year than in the previous year. The effect was limited, however, with the long holiday period, from April 27 to May 6, prompting many consumers to go traveling instead of shopping.
Slow sales after the holiday period also contributed to the sluggish results.
Sales at J. Front Retailing Co. <3086> rose 0.7 pct from a year earlier.
Sogo & Seibu Co., a unit of Seven & i Holdings Co. <3382>, saw its sales stay flat.
[Copyright The Jiji Press, Ltd.]