10/07/2008 11h39

SP retail sales grow 2.1% in August

Valor Econômico - 10/07/2008

The Federation of Commerce of the State of São Paulo (Fecomércio) indicated a 2.1% growth in the retail activity of the metropolitan region of São Paulo in August, in comparison with last year's same period. According to the entity, this was the 29th consecutive increase in sales seen in the region. The accumulated high between January and August of 2008 already reaches 4.8%, compared to the same period of 2007. In the analysis of the entity, the international turbulence situation has not contaminated the São Paulo consumers' purchase intentions yet; they continue optimistic about the credit offer and the income and employment recovery. The expectation is that this situation changes in the mid-run. The magnitude of the impact of the international crisis over the retail activity in São Paulo, however, can not be measured yet, evaluates Fecomercio. The high in sales has been driven by the clothing, fabric and shoes sector. In August, the companies of this group had growth of 17%, accumulating a 23.4% high in the year, always compared with the same period of 2007. Contrary to this trend, auto parts and accessories stores have been driving the results seen by Fecomércio down, with a 28.5% fall in August and 29.4% in the accumulated of 2008. Other sectors that showed considerable growths in their sales in August are home construction supplies stores (16%), car dealerships (14.3%), furniture and decoration (6.3%), drugstores and perfume stores (5.9%) and home appliances and electro-electronic stores (2.4%). With falling sales there are also department stores (-8.7%) and supermarkets (-6.5%).