Tuesday, September 1, 2009
Japan Department Stores' Sales Drop 11.7% in July
Registering their 17th straight month of decline Japan department stores' sales dropped 11.7% in July. Apparel sales of the country’s 272 stores fell 15.6 percent during July due to the continued weakness of the Japanese economy and a longer than usual rainy season. Department store sales of men’s wear dropped 16.7 percent, while those of women’s wear declined 15.6 percent. Even though Japan is slowly coming out of the recession consumer confidence is still low and will remain low well into the end-of-the-year.