Japan's chain stores eke out a second straight month of growth as clothing lags and a food tax cut looms
Japan's chain stores grew existing-store sales just 0.2% year on year in August — a second straight monthly gain after June's decline — as food held up and clothing fell, with the Japan Chain Stores Association flagging the government's approved plan to cut the food consumption tax rate to 1% as the factor to watch next.
Japan's chain stores — supermarkets, drugstores and general-merchandise chains among them — grew existing-store sales just 0.2% year on year in August, according to the Japan Chain Stores Association (JCSA), whose survey covers 45 member companies operating 9,693 stores across 23.1m square metres of floor space. On an all-store basis, which includes new openings, sales rose a firmer 1.3%.