Supermarket sales down 17th straight year
Japanese Prime Minister Shinzo Abe’s so-called Abenomics has given Japan’s stock market a lift.
But Abenomics hasn’t been enough to halt plunging revenue at the country’s supermarkets, which announced on Tuesday their 17th straight year of declining revenue.
Sales at Japan’s supermarkets were down about seven percent as consumers continue to economize.
Prime Minister Abe is on his way to Davos to explain what he’ll do to kickstart growth in Japan.
Abe will the first Japanese prime minister to give the keynote speech at Davos.
Abe is expected to detail his plans to deregulate Japan’s economy and bring more women into the workforce.