June 18, 2018 / 8:21 AM / in 5 months

Japan's Don Quijote says it will hit 1 trillion yen sales target a year early

TOKYO, June 18 (Reuters) - Japanese discount retailer Don Quijote Holdings Co Ltd expects to hit its 1 trillion yen ($9.05 billion) sales target in the next financial year, a year earlier than forecast, a senior executive said on Monday.

“We have progressed to where we can pull (the target) forward,” Mitsuo Takahashi, Don Quijote’s chief financial officer, said in a Reuters interview, adding that the discounter expects to have about 470 stores worldwide in the financial year ending June 2019, up from 416 now.

The company, Japan’s largest discounter, is known for stocking its stores floor-to-ceiling with an eclectic mix of products, from leopard-print rugs to designer goods, and has proved popular among Japanese shoppers and the growing numbers of tourist visiting Japan. ($1 = 110.4600 yen) (Reporting by Sam Nussey and Ritsuko Shimizu; Editing by Gerry Doyle)

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