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Masters Closure Pushes Retail Turnover Down

Retail turnover in Australia fell by 0.1% in December 2016 according to the Australian Bureau of Statistics driven by a 2.3% fall in household goods retailing.

Seasonally adjusted data from the ABS indicated turnover for hardware, building and garden supplies in the household goods group fell by 6.6%, the first drop in four months. Masters appears to have played a major role in this drop, with the retailer beginning its clearance sale in August last year before the closure of all stores on or before December 11.

Within the household goods group, electrical and electronic goods turnover remained steady, while furniture, floor coverings, houseware and textile goods rose modestly by 0.2%.

Retail turnover in the clothing, footwear and personal accessory group saw the biggest increase, up 1.4% in December. Turnover for food retailing rose by 0.5%, and cafes, restaurants and takeaway food services rose by 0.2%. Department stores also rose by 0.3% while ‘other’ retailers dropped by 0.2%.

 



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