6 July 2020
The Weekly

Japanese department store sales slumped by between 20 and 30% 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%, Sogo and Seibu, down 16.5%. J Front Retailing, which owns Daimaru and Matsuzakaya department stores, reported a sales decline of 29%, although those banners are more impacted by declining tourism numbers than some rivals. At Isetan Mitsukoshi Holdings’ stores, sales were down by 19%. 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%.