Department stores sales April +13.7%

 

Sales for foreigners tripled. Japan department stores association released the April sales. The sales increased +13.7% yoy. One of the main reasons is the same period of last year the consumption tax rose. The other reason is sales for foreigners tripled.

On the other hand it means the sales for domestic declined.

Sales for foreigners hit the record high, 19.7 billion yen. It accounted for 4.1% of the total sales.

Provided that the property price in commercial area is affected by the sales, hereafter it would be more affected by world economy and the yen in depreciation.