Retail Sales Bottomed out Apparel Retail Sales Value + 4.8% m/m in Jul. in Shanghai

Retail Sales Bottomed out Apparel Retail Sales Value + 4.8% m/m in Jul. in Shangha

According to Shanghai Apparel Association, apparel retail sales volume in Shanghai top 10 department stores rose slightly in Jul. 2011, increasing by about 4.8 per cent m/m to 889,000 pieces. CNY310 million was spent in apparel products in Jul., edging up 5.3 per cent m/m. Average price in Jul. was CNY346.7/piece (set), up 18.5% y/y. Sales are now expected to bottom out in Aug.