Japan retail sales grew at fastest pace since 2014 ahead of tax hike, but outlook murky
Japanese retail sales grew at the strongest pace in 5½ years in September as consumers rushed to buy big-ticket items to beat a rise in the country's sales tax, raising concerns spending could pull back sharply in the coming months. The Oct. 1 increase in ...
Sales at Japan's major department stores jumped before tax hike
The nation's four major department store chains saw double-digit growth in their sales in September from a year earlier as consumers hurried to buy luxury items before the consumption tax hike to 10 percent from 8 percent, their monthly reports showed Tuesday. The levels of ...
Japan's consumers and workers struggle to adjust on first day of consumption tax hike
Under a system intended to lighten the burden on low income households, tax rates for foods vary depending on where items are consumed, causing confusion for many.
Japan firms fight the frugal retail psyche with AI-driven pricing and other tricks
After years of soggy inflation and a long reign by Japan's tightfisted shoppers, businesses are adopting new methods to lift prices, from artificial intelligence to simple packaging tweaks. Despite many rounds of stimulus, policymakers have failed to jolt households out of the deflationary mindset that ...
Forever 21 files for bankruptcy, adding to retail apocalypse
Forever 21 Inc. has filed for bankruptcy protection, adding another big fashion merchant to the tally of retailers who couldn't cope with high rents and heavy competition. Court papers filed in the Bankruptcy Court for the District of Delaware show Forever 21 has estimated liabilities ...
The Japanese unit of fast fashion retailer Forever 21 Inc. said Wednesday it will close all 14 stores in the country and its online shop by the end of October amid intensifying competition with other online apparel retailers. The company did not explain the reason ...
Japan convenience store sales rose in August for first time in three months
Japan's convenience store sales rose 0.8 percent in August from a year earlier for the first increase in three months as temperatures helped boost sales of beverages and ice cream, an industry body said Friday. Same-store sales at seven major convenience store operators totaled ¥936.3 ...
BMW Japan raided by FTC over allegations it set unfair sales quotas: sources
Japan's Fair Trade Commission raided BMW Japan Corp. on Wednesday for allegedly imposing unreasonable sales quotas on its distributors and making them buy vehicles when they missed the targets. A representative of BMW Japan confirmed that the FTC raid had taken place, and commented that ...
Can a tax rebate persuade Japan's mom-and-pop stores to shift to cashless payments?
Despite the government pushing the opportunity to accelerate Japan’s shift away from cash, many small-business owners are hesitant to change over to cashless payments.
Japan drugstore giants Cocokara and Matsumotokiyoshi in merger talks
Major drugstore chain Cocokara Fine Inc. said Wednesday it will enter merger negotiations with industry peer Matsumotokiyoshi Holdings Co. If the two giants merge, they would create an industry leader with sales of some ¥1 trillion. Amid intensifying competition, further realignment moves are likely to follow, ...
Time for 'air con,' yukata and beer: Summer sales battle heats up in Japan as rainy season ends
The summer sales battle is intensifying as the year's rainy period officially ended Wednesday after bringing a record-breaking lack of sunshine. The Meteorological Agency on Wednesday announced the end of the rainy season in the Tohoku region, declaring the end of the rainy period throughout ...
Private equity has directly killed 600,000 U.S. retail jobs, study says
Amazon.com Inc., landlords who charge sky-high rents, brands that fail to adapt. The carnage in the retail industry has been blamed on all of them. Now Wall Street is too. Over the past decade, 597,000 U.S. employees working for retailers owned by private equity firms ...
