Business / Corporate

Japan's Don Quijote says it will hit ¥1 trillion sales target a year early

Reuters

Discount retailer Don Quijote Holdings Co. Ltd expects to hit its ¥1 trillion ($9.05 billion) sales target in the next financial year, a year earlier than forecast, a senior executive said Monday.

“We have progressed to where we can pull (the target) forward,” said Mitsuo Takahashi, Don Quijote’s chief financial officer, in an interview, adding that the discounter expects to have about 470 stores worldwide in the financial year ending June 2019 — up from 416 now.

The company, Japan’s largest discounter, is known for stocking its stores floor-to-ceiling with an eclectic mix of products, from leopard-print rugs to designer goods, and has proved popular among Japanese shoppers and the growing numbers of tourist visiting Japan.