TOKYO, Apr 10 (Pulse News Wire) – Matsuya CO.,LTD. (8237.T) reported a decline in overall sales for March, with mixed performance across its stores.
The flagship Ginza Main Store saw a 4.3% decrease in revenue compared to the previous year, while the individual Ginza store showed a slight increase of 0.8%. In contrast, the Asakusa store experienced a significant drop of 47.4%. Sales trends indicate continued challenges, particularly at the Asakusa store, which faced substantial declines throughout the year. However, the Ginza store maintained relatively stable domestic sales growth due to strong performances in high-end women's apparel and jewelry.
Excluding duty-free sales, domestic customer revenues increased by approximately 4% compared to the same period last year. Looking ahead, Matsuya plans to focus on attracting customers from various countries while implementing strategies to boost domestic foot traffic and sales. The company also noted that the reduction in Chinese visitors due to travel restrictions had impacted duty-free sales but was partially offset by solid contributions from Taiwanese and Thai shoppers. Additionally, the weakening yen contributed to maintaining lower sales decreases than expected.
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