Department stores announced their February sales figures. According to statistics compiled by the Japan Department Stores Association, nationwide department store sales across 86 companies and 245 stores increased 0.3% compared to the same month last year. This marks the second consecutive month of year-on-year increases.
Mitsukoshi Isetan Holdings saw a 0.7% decrease in sales compared to the same month last year. While Isetan saw a 0.9% increase, Mitsukoshi saw a sluggish 3.2% decrease. At the Isetan Shinjuku flagship store, sales of high-priced items such as watches and jewelry performed well. While the impact of the reduction in sales floor space due to renovations of the women's clothing floor continued, the store alone saw a 2.4% increase, a significant recovery from the previous month's 5.9% decrease.
J. Front Retailing recorded a 5.2% increase year-on-year at Daimaru Matsuzakaya Department Stores, thanks to positive factors such as a strong Valentine's Day shopping season, increased sales of high-priced items such as luxury brands and fine jewelry, and increased sales due to the expansion of the Tokyo store that grandly opened in October last year. The department store business, including affiliated department stores, saw a 4.6% increase year-on-year. If the Daimaru LaLaport Yokohama and Shin-Nagata stores, which closed at the end of January this year, are added, the respective increase rates are 3.6% and 3.2%. By store, the Nagoya store maintained a year-on-year increase for the fourth consecutive month, and the Kobe store, which continues to benefit from food renovations, maintained a year-on-year increase for the 10th consecutive month. Ten of the 16 directly managed stores and Hakata Daimaru exceeded their year-on-year results.
H2O Retailing also saw a slump in sales of spring fashion due to the cold temperatures, but thanks to strong sales of luxury brands and a successful Valentine's Day shopping campaign, consolidated sales for its department store business increased 8.9% year-on-year. The Hankyu Main Store, which opened its expanded storefront in November of last year, saw a 53% increase. The main reason for this increase was the continued high level of sales at the Hankyu Umeda Main Store, which increased sales by 63.6% year-on-year. Hankyu Men's Osaka also posted a stable 4.1% increase. Meanwhile, sales at the Hanshin Main Store decreased 9.3% year-on-year.
Takashimaya also saw sales increase in men's clothing, driven by the strength of high-end brand items. Sales at its 14 stores increased 0.3% year-on-year, and sales at its 18 domestic department store subsidiaries also increased 0.3% year-on-year. By region, the Kansai region was particularly strong, with nine stores in Kansai increasing 1.1% and nine stores in Kanto increasing 0.2%.
Although there were negative factors such as a decrease in the number of business days overall (the year after a leap year) and a drop in demand for spring clothing due to dropping temperatures, sales were driven by the wealth effect from the continued rise in stock prices since the end of last year and an increase in consumer confidence born from expectations of an economic upturn. In addition, as the Chinese New Year Festival was held in February this year instead of January last year, an increase in visitors from Asia also boosted spending at department stores.
Mitsukoshi Isetan Holdings saw a 0.7% decrease in sales compared to the same month last year. While Isetan saw a 0.9% increase, Mitsukoshi saw a sluggish 3.2% decrease. At the Isetan Shinjuku flagship store, sales of high-priced items such as watches and jewelry performed well. While the impact of the reduction in sales floor space due to renovations of the women's clothing floor continued, the store alone saw a 2.4% increase, a significant recovery from the previous month's 5.9% decrease.
J. Front Retailing recorded a 5.2% increase year-on-year at Daimaru Matsuzakaya Department Stores, thanks to positive factors such as a strong Valentine's Day shopping season, increased sales of high-priced items such as luxury brands and fine jewelry, and increased sales due to the expansion of the Tokyo store that grandly opened in October last year. The department store business, including affiliated department stores, saw a 4.6% increase year-on-year. If the Daimaru LaLaport Yokohama and Shin-Nagata stores, which closed at the end of January this year, are added, the respective increase rates are 3.6% and 3.2%. By store, the Nagoya store maintained a year-on-year increase for the fourth consecutive month, and the Kobe store, which continues to benefit from food renovations, maintained a year-on-year increase for the 10th consecutive month. Ten of the 16 directly managed stores and Hakata Daimaru exceeded their year-on-year results.
H2O Retailing also saw a slump in sales of spring fashion due to the cold temperatures, but thanks to strong sales of luxury brands and a successful Valentine's Day shopping campaign, consolidated sales for its department store business increased 8.9% year-on-year. The Hankyu Main Store, which opened its expanded storefront in November of last year, saw a 53% increase. The main reason for this increase was the continued high level of sales at the Hankyu Umeda Main Store, which increased sales by 63.6% year-on-year. Hankyu Men's Osaka also posted a stable 4.1% increase. Meanwhile, sales at the Hanshin Main Store decreased 9.3% year-on-year.
Takashimaya also saw sales increase in men's clothing, driven by the strength of high-end brand items. Sales at its 14 stores increased 0.3% year-on-year, and sales at its 18 domestic department store subsidiaries also increased 0.3% year-on-year. By region, the Kansai region was particularly strong, with nine stores in Kansai increasing 1.1% and nine stores in Kanto increasing 0.2%.
Although there were negative factors such as a decrease in the number of business days overall (the year after a leap year) and a drop in demand for spring clothing due to dropping temperatures, sales were driven by the wealth effect from the continued rise in stock prices since the end of last year and an increase in consumer confidence born from expectations of an economic upturn. In addition, as the Chinese New Year Festival was held in February this year instead of January last year, an increase in visitors from Asia also boosted spending at department stores.
