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Japan: Department store sales fall 6.8% in October

Japan: Department store sales fall 6.8% in October

Write: Dominica [2011-05-20]

Department store sales, hurt by weak clothing sales and the unfolding economic crisis, declined 6.8% in October from a year earlier on a same-store basis for the eighth consecutive fall, an industry group said Tuesday. Total sales came to 584.56 billion yen, the Japan Department Stores Association said.

The relatively high temperatures nationwide dampened sales of autumn and winter clothing. As the stock market plunged to its lowest level since the collapse of the bubble economy in the early 1990s, negative wealth effects took a toll on big-ticket items. Overall clothing sales slumped 9.6%. Home products including furniture and home appliances dived 15.1%.