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JAPAN CO NITORI TO AGAIN CUT PRICES ON 400 FURNITURE ITEMS

TOKYO, Oct 28, 2009 (AsiaPulse via COMTEX) --

Companies: Japan Co Ltd (JPCLF), Nitori Co Ltd (NCLTF)

Japanese furniture and interior goods retailer Nitori Co. (TSE:9843) said Tuesday that it will again lower prices on 400 products, such as sofas and curtains, from Saturday.

The discounts, which will range between 15-40 per cent, will average 21 per cent and are the seventh markdown since May 2008. The latest cuts were triggered by foreign exchange gains on overseas-made items, which account for 75 per cent of Nitori's lineup.

In-store products will be subject to the discounts, with the 39,900 yen price tag on a loveseat sofa to be trimmed 25 per cent to 29,900 yen.

Price reductions to date have increased Nitori's customer traffic, with month-on-month same-store sales surging 6-15 per cent since March.

(Nikkei) rw

Copyright (C) 2009 Asia Pulse. All rights reserved

News Provided by COMTEX

Companies: Japan Co Ltd (JPCLF), Nitori Co Ltd (NCLTF)


Related terms: foreign exchange, japan, nikkei, prices, products, sales, yen

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