Jewelry Sales Slump 6.4% at Japan's Department Store in September

Japan's department store sales in September declined 4.7 percent on a same-store basis, totaling 524.0 billion yen ($5.16 billion), according to the Japan Department Stores Association. The weak sales continue a seven month slump.

While food sales rose a small 0.2 percent, falling stock prices and higher precious metals negatively affected jewelry sales, compounded by a continued slowdown in luxury purchases, a trend the Association expects will persist.

Jewelry sales declined 6.4 percent year-over-year, sagging for the 19th consecutive month.

The Association attributes the successive downturns to rising consumer pessimism exacerbated by the collapse of U.S. investment bank Lehman Brothers.

Sales of clothing, department stores largest category, fell 4.8 percent, a 15 month consecutive decline.