Retail sales rebound, larger stores win out

Retail sales bounced back from a mid-winter fall with a solid 0.4 per cent rise in August, although large stores appear to have been the main winners.

The latest Bureau of Statistics data show that customers returned to stores in August, after a 0.1 per cent sales decline in July, spending an estimated $24.4 billion in the month, seasonally adjusted.

The best sales growth occurred in Victoria (0.9 per cent) and New South Wales (0.5 per cent), while the Northern Territory (-0.9 per cent) and ACT (-0.4 per cent) both had big falls in turnover.

Sales in August this year were up 4.5 per cent on last, with larger stores dominating according to analysis by Deutsche Bank, with their sales up a stronger 6.7 per cent over the past 12 months.

The stronger sectors in August were department stores (up 1.3 per cent), other retailing (up 1.3 per cent, with recreational goods particularly strong), electrical and electronics (up 0.8 per cent), liquor (up 0.8 per cent) and supermarkets and grocery stores (up 0.6 per cent).

There was particular weakness for clothing (down 1.6 per cent) and footwear and personal accessories (down 1.1 per cent).

Source: ABC News