Retail in a bad patch

Retail sales continued to fall in August, in terms of volume. Sales turnover of retail stores was down by 4.2 percent in the first eight months of 2009 and by 7.2 percent in August, compared to the same period in 2008. According to KSH’s report, the domestic retail network and mail order companies generated sales of HUF 4,639 billion in the first eight months, of which HUF 638 billion was realised in August. Food and food type products represented 46 percent of retail sales; the turnover of food stores decreased by 3.4 percent in the first eight months of 2009 and by 6.6 percent in August. In August 2009, hypermarkets, supermarkets and small shops (which represent 91 percent of sales) sold 7.0 percent less, in terms of volume, compared with August 2008.