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Retail revenues fell 4 percent year-on-year in December

Revenues in the retail sector continued to fall at the end of last year, dropping by 4 percent year-on-year to €1.732 billion in December. The total decrease in retail revenues for the whole of 2012 stood at 1 percent compared to the previous year, at slightly over €17.9 billion, the SITA newswire reported.

Revenues in the retail sector continued to fall at the end of last year, dropping by 4 percent year-on-year to €1.732 billion in December. The total decrease in retail revenues for the whole of 2012 stood at 1 percent compared to the previous year, at slightly over €17.9 billion, the SITA newswire reported.

The fall was mostly the result of a 6-percent drop in the revenues of retail chains with other goods in specialised outlets and lower revenues of retail chains with fuels, which fell by 5 percent. Moreover, outlets selling goods for households and chains outside shops, stalls and markets reported a decrease in revenue.

The only area which reported growth was retail in stalls and on markets, where revenue grew by 6.6 percent, SITA wrote.

UniCredit Bank analyst Ľubomír Koršňák said that retail revenues were falling in both the food and non-food sectors. Compared to last year, revenues did not increase in the run-up to Christmas. The whole situation only confirms the weak level of consumption by Slovak households, Koršňák added.

“The growing uncertainty on the labour market could not be covered even by Christmas and the revenues of Slovak retailers pushed the post-crisis minimum deeper,” Koršňák said, as quoted by SITA.

He said he does not expect the situation to change during the start of this year.

Source: SITA

Compiled by Radka Minarechová from press reports
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