Canadian retail sales saw an increase of 2.5 per cent in August, compared to the same period last year, on a not seasonally adjusted basis. For the quarter ending in August, sales grew by 4.6 per cent compared to one year ago.
Sales at supermarkets and other grocery stores declined by 3.4 per cent in August as compared to the same period last year, after experiencing a 3.4 per cent increase in July. Specialty food stores also experienced a decline.
Meanwhile, sales at health and personal care stores grew by 4.3 per cent, the subcategory’s lowest monthly increase this year. Store merchandise sales, which includes clothing, furniture and hobby stores, grew by 5. (230-fifth.com) 3 per cent year-over-year for the quarter ending in August, which is the largest growth since before the recession.
Things are looking up for Canadian retailers, however. The Canadian dollar recently fell to under US$0.90, which may discourage cross-border shopping this holiday season, so with some effective deals in place, that business is likely to stay at home.
