Japan Dept. Store Operators See Sales Down 60-80 Pct in May
Tokyo, June 1 (Jiji Press)--Four major Japanese department store operators said Monday that their respective same-store sales in May were down about 60 to 80 pct from a year earlier.
The sales declines, nonetheless, were generally milder than in April as they started to reopen stores in mid-May in areas where the government's state of emergency over the new coronavirus outbreak was lifted.
In May, sales dropped 78.1 pct at Isetan Mitsukoshi Holdings Ltd. <3099>, 73.2 pct at J. Front Retailing Co. <3086>, 62.9 pct at Takashimaya Co. <8233> and 61.5 pct at Sogo & Seibu Co., a Seven & i Holdings Co. <3382> unit.
The state of emergency, declared in April, was removed in stages in May.
The drop at Isetan Mitsukoshi was little changed from the 78.2 pct plunge in April as its six stores in the greater Tokyo area reopened only on Saturday.
[Copyright The Jiji Press, Ltd.]