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THE FIRESALE that marked the closure of the Masters brand has been blamed for pulling down retail trade figures for December.
Retail turnover declined 0.1 per cent in December 2016 to $25.6 billion (seasonally adjusted) compared to November according to the latest Australian Bureau of Statistics retail trade report. Year on year, growth was around 3 per cent.
The Australian Retailers Association (ARA) says the Masters closure took its toll on the hardware category (1.76% year-on-year) down from 10.15% in November 2016 figures.
Food retailing (0.5 per cent), clothing footwear and personal accessory retailing (1.4 per cent), cafes restaurants and takeaway food services (0.2 per cent), and department stores (0.3 per cent) found growth during the month.
Although December 2016 sales showed no increase over November 2016 trade figures, Zimmerman says the industry's annual Christmas performance remains stable and the uplift in discretionary spend is exactly what the industry would expect.
Business News Australia
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