Retail figures better than most would've expected

Media release
Newmarket Business Association
Friday 12 June 2009

Retail figures better than most would've expected

Statistics New Zealand's latest monthly retail figures for April were up thanks to healthier automotive figures, but even still the core retail categories seem to be holding their own, says the head of Auckland's leading retail district.

"Out of the 20 core retailing categories, 10 may have had decreases but 10 actually had sales increases. We've seen a rally in department stores, and for the likes of cafes, restaurants, takeaways and supermarkets. For most categories that saw a decrease they weren't overly significant, although hospitality, accommodation and some big ticket retail items were down," says Cameron Brewer, general manager of the Newmarket Business Association.

"Looking at these figures, the worst bleeding seems to have stopped. However there's still a long way to go, with unemployment set to continue climbing this year.

"Interestingly Statistics New Zealand states that 'since January 2009 the rate of decline has eased and the trend has flattened' for retail. That's a far cry from overseas experiences in the likes of the UK and US where retail has been experiencing huge troughs. New Zealand's retailers are standing up relatively well given all that has been thrown at them," says Cameron Brewer.

ENDS

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