Japan Convenience Store Sales Log 1st Drop in Over 6 Yrs in July

Economy

Tokyo, Aug. 20 (Jiji Press)--Sales at convenience stores in Japan in July dropped 0.6 pct year on year to 986 billion yen on an all-store basis, down for the first time in six years and five months, industry data showed Tuesday.

The poor result reflected weak demand for cold drinks, ice cream and other items for summer amid a long spell of rain, according to the data from the Japan Franchise Association.

Sales on a same-store basis also fell, by 2.5 pct to 917 billion yen.

Among major convenience store operators, Seven-Eleven Japan Co. saw its sales fall 1.2 pct on an all-store basis, down for the first time in nine years and four months. The slump apparently stemmed from a series of security breach cases involving the firm's 7pay smartphone-based online payment service, industry sources said.

The association said that the overall number of shoppers at convenience stores in July fell 4.7 pct on a same-store basis, down for the fifth straight month. On an all-store basis, shoppers decreased 2.8 pct.

[Copyright The Jiji Press, Ltd.]

Jiji Press