TOKYO — Japanese department store sales have been slowing in recent months amid signs that one well-heeled segment of shoppers is losing its appetite for lavish spending, partly due to the knock-on effects of U.S. President Donald Trump’s tariff blitz.
In June, department store sales fell 7.8% year-on-year to 461.5 billion yen ($3.1 billion). The decline was attributable to a 40.6% plunge in tax-free shopping by foreign visitors, to 39.2 billion yen, according to data released Friday by the Japan Department Stores Association.
