2 Major Japan Dept. Store Firms Face Profit Drops in March&May

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Tokyo, July 1 (Jiji Press)–Two major Japanese department store operators posted year-on-year decreases in March-May consolidated profits as luxury goods purchases by inbound visitors fell back after faring well a year before on the back of a weaker yen. Takashimaya Co. said Monday its operating profit in the first quarter of its current business year fell 26.9 pct to 12.6 billion yen, the f…

Tokyo, July 1 (Jiji Press)–Two major Japanese department store operators posted year-on-year decreases in March-May consolidated profits as luxury goods purchases by inbound visitors fell back after faring well a year before on the back of a weaker yen. Takashimaya Co. said Monday its operating profit in the first quarter of its current business year fell 26.9 pct to 12.6 billion yen, the f…