Shares in a range of Japanese retailers have gained following a surge in sales at furniture chain Nitori Holdings Co. and casual fashion retailer Shimamura Co., an early indication of pent-up demand from local shoppers being unleashed as the threat from the coronavirus subsides.
Nitori same-store sales jumped 47 percent in June from the same month the previous year, the most on record in data going back to 2012, while Shimamura saw a 27 percent increase.
The two companies are early reporters of retail data, with the figures released Tuesday covering the period from May 21 to June 20. The coronavirus state of emergency was lifted in stages from May 14, before being fully ended on May 25.