Ryohin Keikaku Aug. same-store sales +6.1%

Ryohin Keikaku Aug. same-store sales +6.1%

Ryohin Keikaku, a Japanese retailer known for its Muji brand, reported a significant improvement in its August same-store sales, marking a 6.1% year-on-year increase. This positive performance comes on the heels of a two-session decline in the Nikkei share average, which was led higher by department store shares following relatively strong monthly sales reports [1].

The Nikkei 225 Index, Japan’s key stock market index, rose by 0.3% to 42,292.88 at the midday break on Tuesday. The broader Topix index added 0.5% to the gains. Takashimaya and a unit of J.Front Retailing, which posted preliminary same-store sales figures for August on Monday, led the way with notable increases in their share prices. Takashimaya shares gained 2.4%, while J.Front advanced almost 2.8% [1].

Isetan Mitsukoshi, another notable department store, also contributed positively to the market, narrowing its monthly sales decline and adding 3.5% to its share price. The overall market saw 171 advancers against 51 decliners, with Mitsui Mining and Smelting and Kirin Holdings being the largest percentage gainers at 5.6% and 5.3% respectively. Conversely, online retailer Mercari and Muji-brand retailer Ryohin Keikaku were among the largest losers, with Mercari losing 4% and Ryohin Keikaku shedding 2.4% [1].

Ryohin Keikaku's strong performance in August suggests a resilient consumer demand in the retail sector, particularly for its signature Muji brand. This positive sales growth is likely to be closely watched by investors and financial analysts, as it may indicate broader trends in the Japanese retail market.

References:
[1] https://www.brecorder.com/news/40380858/japans-nikkei-gains-led-by-department-stores-on-sales-reports