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Daiei's December Sales Up 5% for 2nd Straight Month of on-Year Rise

Posted on: Sunday, 1 January 2006, 15:00 CST

By Kyodo News International, Tokyo

Jan. 1--TOKYO -- Daiei Inc. said Sunday its same-store sales rose 5 percent in December from a year earlier, posting a second straight month of sales increases from year-before levels for the first time in 25 months.

The supermarket chain operator, currently restructuring under the supervision of the Industrial Revitalization Corp. of Japan, had reported a 3 percent sales gain in November for the first upturn in 21 months.

The company's December sales were higher than a year earlier for the first time in 11 years. Daiei attributed the growth to steady demand for winter clothing due to cold weather and a month-long discount campaign.

Under the rehabilitation plan supported by the state-backed corporate bailout agency, the Kobe-based retailer cut more than 1,000 jobs and closed 54 unprofitable outlets by the end of November, almost completing its large-scale restructuring measures.

It plans to open 100 new supermarkets focused on food products by the end of February 2010.

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Copyright (c) 2006, Kyodo News International, Tokyo

Distributed by Knight Ridder/Tribune Business News.

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DAIEY, 8263,

Source: Kyodo News International, Tokyo

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