Retail sales continue to climb

By Phil Boeyen, ShareChat Business News Editor

Friday 9th November 2001

New Zealand's retail sector showed no sign of slowing in September despite a downturn in department store sales.

Latest figures show seasonally adjusted retail sales increased 0.7% in September compared with August. For the three months ended September sales rose 1.1% compared with the June quarter.

Statistics New Zealand reports seasonally adjusted sales for department stores fell 3.4% in the third quarter and, with price changes removed, sales volumes fell 3.8%.

"This quarter's result was due to a large decrease in the August 2001 month, when seasonally adjusted sales fell 8.5% compared with July 2001. This decrease has been attributed to store closures and the easing of sales growth in the remaining stores."

However, actual department store sales for the quarter are still 4.6% higher than they were in the period last year.

Ten of the 15 storetypes recorded by Statistics NZ showed an increase in seasonally adjusted sales in September quarter with food retailers making the largest contribution in dollar value to the overall increase. This was followed by motor vehicle retailing and accommodation, hotels and liquor stores

The September result continues a pattern of growth that has been evident in the past three years. The trend has increased by 21.1% from May 1998

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