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Wednesday, Nov. 19, 2008 Department store sales fall 6.8%Kyodo News
Department store sales, hurt by weak clothing sales and the unfolding economic crisis, declined 6.8 percent 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, 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 percent. Sales of artwork, jewelry and precious metals plummeted 13.5 percent. Home products including furniture and home appliances dived 15.1 percent. Food sales registered a rise of 1.6 percent and cosmetics edged up 0.6 percent. They were the only two specific product categories that saw sales increases, although the category of "others" scored an increase. The nationwide data covered 281 outlets operated by 92 companies. In Tokyo alone, department store sales dropped 8.4 percent from a year earlier for the eighth consecutive month of decline. |
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