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Japanese department stores show early signs of recovery post Covid-19

Japanese department store sales slumped by between 20 and 30 per cent year on year in June, but that was a lesser rate than in May.

Least impacted of the Japanese department store groups were Takashimaya, where sales declined by 16.4 per cent, and Sogo and Seibu, down 16.5 per cent.

J Front Retailing, which owns Daimaru and Matsuzakaya department stores, reported a sales decline of 29 per cent, although those banners are more impacted by declining tourism numbers than some rivals. At Isetan Mitsukoshi Holdings’ stores, sales were down by 19 per cent.

The slower decline suggests Japanese consumers are returning to shop after the advent of Japan’s Covid-19-related state of emergency during which people stayed home to reduce the risk of transmission.

In May, Japanese department store groups reported sales down by between 60 and 80 per cent.

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