J.FRONT falls sharply for fourth straight session after August sales slip below prior year for first time in two months
J.FRONT RETAILING Co., Ltd. <3086> extended its losing streak to four straight sessions, falling sharply after releasing its August sales report after market close on the 1st. Department store sales fell 0.6% year-on-year, slipping below the prior-year level for the first time in two months, weighing on investor sentiment.
While sales to external clients remained solid, duty-free sales underperformed compared with a year earlier. Additional headwinds included a negative base effect from sales at the Expo venue in the year-ago period, as well as the ongoing impact of reduced floor space at the Umeda store.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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