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Japan’s Department Store Shares Lag as Tourist Splurge Slows

Low confidence stemming from economic uncertainty has crimped tourist budgets with data compiled by the Japan Department Stores Association showing tax-free inbound sales at over 80 department stores across the country fell by 41 percent in May from a year earlier.
Japan was once known for its towering department stores.
Isetan is one of Japan's most famous department stores. (Shutterstock)

Once the darling of Japanese stock investors, department stores have lagged the recent broad market rally and could fall further behind as a strong yen dents tourist spending power.

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