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London retail sales up 7.1 pct year

Monday, January 14, 2008

LONDON (Thomson Financial) - Retail sales in London rose 7.1 pct from a year ago in December, according to the London Retail Consortium.

The figure was based on a like-for-like performance, which strips out changes in floor space.

In December 2006, sales rose by 9.8 pct and in 2005 by 5.7 pct.

Western and Eastern European visitors to the capital remained the main spenders, while both American and Japanese visitors were still discouraged by the weakness of the dollar and the yen.

Sales of clothing and footwear sales remained difficult overall, despite widespread discounting. However, designer fashions and accessories continued to outperform, as did premium beauty items. Homeware sales slowed further, hit by the weaker housing market and squeeze on household incomes.

Posted by MOHAMED SAID at 4:52 AM  


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