Matsuya Co., Ltd. (TSE: 8237) said sales at its Ginza main store fell 11.0% year-on-year in August, with the affiliated Asakusa store down 11.3%; combined, the Ginza flagship including Asakusa slipped by roughly a tenth. The company flagged the numbers as preliminary and subject to revision once final figures are tallied.
| Store | YoY change |
|---|---|
| Ginza main store | -11.0% |
| Asakusa store | -11.3% |
| Ginza flagship (incl. Asakusa) | about -10% |
Matsuya's own explanation for the decline is timing, not trouble. August 2025 was boosted by a run of promotions marking the Ginza store's 100th anniversary in May of that year, a series of large luxury-brand events that lifted sales across the building, and the completion in mid-June 2025 of a major renovation at the Louis Vuitton Ginza boutique, which drove a jump in sales to wholesale (gaisho) clients. Both duty-free sales and domestic sales excluding duty-free came in below last year for the same reason: August 2025 had an unusually large luxury-event lift that this August did not repeat.
Not every category slid. Cosmetics sales rose about 3% year-on-year, and women's apparel climbed 8%, which Matsuya credits to continued demand for practical summer goods during the heat and the early rollout of autumn merchandise.
The figures released September 1 are preliminary; Matsuya will publish its finalized August sales report on September 10 at 4pm, when the full year-on-year comparison against last year's unusually strong luxury-driven month becomes clearer.