logo |

News

    Home   >     Industry    >     Main body

    Japan Retailers Gain as Sales Data Hint at Post-Outbreak Rebound

    Abstract:Shares in a range of Japanese retailers gained following a surge in sales at furniture depot Nitori Holdings Co. and casual fashion retailer Shimamura Co., an early indication of pent-up demand from local shoppers as the threat of the coronavirus subsided.

      Shares in a range of Japanese retailers gained following a surge in sales at furniture depot Nitori Holdings Co. and casual fashion retailer Shimamura Co., an early indication of pent-up demand from local shoppers as the threat of the coronavirus subsided.

      Nitori same-store sales jumped 47% in June from the previous year, the most on record in data going back to 2012, while Shimamura saw a 27% increase.

      The two companies are early reporters of retail data in Japan, with the figures released Tuesday covering the period from May 21 to June 20. Japans coronavirus state of emergency was lifted in stages from May 14, before being fully ended on May 25.

      Shimamura shares rose as much as 7.3% in Tokyo on Wednesday, while Nitori added as much as 2.5%. The moves were echoed in other retailers which are set to report monthly data early in July, including United Arrows Ltd., which added 5.3%, and owner of the Muji brand Ryohin Keikaku Co., which climbed as much as 4.7%. Uniqlo operator Fast Retailing Co. advanced 2%.

      Choose Muji Ahead of Uniqlo in Post-Covid World, Jefferies Says

      Revenues at department stores, more dependent on tourist spending, fell 27% compared with the year earlier between June 1 and 17, Kyodo reported, citing the Japan Department Stores Association. Should that pace hold, it would still represent a recovery from May, when sales dropped 66% nationwide according to data released Tuesday. Sales plunged 73% in April.

      Retail Recovery

      Sales at some Japan retailers bounced back as the pandemic subsided

      Source: Company filings

      Note: Data cover the period up to the 20th of each month

      Nitori cited continued demand for home office furniture and storage goods, noting that 4.8 percentage points of the increase could be attributed to the fact that the period had one more Saturday compared with 2019.

      The Sapporo-based firm had already seen relatively little impact on its revenue during the state of emergency, with sales jumping in March and falling just 4% in April. Its shares rose about 18% this year versus an 8% loss for the broader Topix. At Shimamura, by contrast, turnover fell every month in 2020, including a 28% drop in April. Its stock fell 3% year to date.

      Japanese consumers have taken to remote work in a way that few had predicted, with Nitori in particular standing to benefit from an increased level of spending as workers spruce up their living environments at home. A Jiji survey found that 70% want to continue working from home even after the pandemic is contained, while a Cabinet Office poll showed increased levels of interest from 25% of city dwellers in moving to the country.

      Shimamura also said it saw continued “stay-home” demand for relaxing interior clothing and summer goods, with June customer numbers up 16% from the year earlier. On Monday, infant goods retailer Nishimatsuya Chain Co., which had seen gains every month throughout the emergency, reported a 34% jump in sales.

      Japan releases overall retail sales data for May on June 29. The print for April showed a 14% drop compared to the previous year, the second-largest decline in a single month since 1989.

      (Updates with share moves in related companies)

    Latest News

    Australia Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    Australia Dollar
    Available
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click "Complaints "and "Correction" to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.

    ×

    Select Country/Area

    ×

    Select Country/Area