Japan Feb Supermarket Sales -2.4% Y/Y, Down 15 Months In Row - Imarket

Japan Feb Supermarket Sales -2.4% Y/Y, Down 15 Months In Row - Imarket

TOKYO (MNI) - Sales at supermarkets in Japan open for at least a year fell 2.4% in February from a year earlier to Y933.3 billion as consumers remained frugal amid falling wages and high unemployment, an industry group said on Tuesday.

But the year-on-year drop shrank from the previous month thanks to good sales of flat-screen TVs, bicycles and some spring clothing, the Japan Chain Stores Association said.

It was the 15th consecutive year-on-year drop in supermarket sales following -4.9% in January. The last y/y rise in sales was +0.6% marked in November 2008.

The figures are based on the combined sales at 68 supermarket chains which together operate 8,201 outlets. The numbers have been adjusted to facilitate comparison on a same-store basis.

Including sales at stores newly opened during the past year, revenue fell 2.0% from a year earlier in February, down for the 27th consecutive month after falling 4.3% the previous month. The last time sales under this category rose was in November 2007 (+0.5% y/y).