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Reuters
Published
Sep 8, 2009
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Retail sales fall for first time since May

By
Reuters
Published
Sep 8, 2009

LONDON (Reuters) - Retail sales fell on the year last month for the first time since May, a survey showed on Tuesday 8 September, as cost-conscious consumers refrained from splashing out on non-essential items.



The British Retail Consortium said the value of like-for-like sales fell 0.1 percent in August compared to the same month last year after a 1.8 percent annual gain in July.

The value of total sales -- which includes new floorspace -- was 2.2 percent higher than on a year ago compared with a 3.6 percent annual rise in July.

Retail sales values have held up well over the summer, but BRC Director General Stephen Robertson said that was largely due to summer sun and price cuts, not a revival in consumer confidence.

"What spending we have now is all about value and essentials," Robertson added.

Food sales continued to hold up well in August, but all other sectors declined in like-for-like terms. Furniture, clothing and house textiles performed particularly badly.

Helen Dickinson, head of retail at KPMG, said the timing of the bank holiday -- which fell into August's results for 2008 but not in 2009 -- may have adversely affected the figures.

(Reporting by Christina Fincher; Editing by Andy Bruce)

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