14 March 2001, 12:51 French large store sales volumes fell 1.3% m/m
PARIS (MktNews) - French large store sales volumes fell 1.3% m/m in
February after a 3.5% m/m jump in January (revised up from +2.9%), the
Paris Chamber of Commerce and Industry said, citing preliminary
seasonally and work-day adjusted data.
Taken together, the two months represent a "good start to the year"
after the "mediocre" results at the end of last year, the chamber said.
"The overall good performance seen in January and February coincide
with the excellent results (of surveys) on consumer confidence and
retail sales published by Insee these last two months," it noted.
The real 3.5% year-on-year decline in February can be fully
explained by the extra shopping day in February last year, it said.
Hypermarket sales declined 1.3% m/m in February after a 3.1% m/m
gain in January, "but remain at a level well above those of the second
half of 2000," the chamber noted. Supermarket sales posted a 1.8% m/m
rise in February on the back of a 0.9% m/m gain in January.
Large department stores sales declined 1.2% m/m after a 9.5% m/m
surge in January, giving a two-month rise of 5.8% when corrected for the
number of working days, it said. Chain store sales slipped 0.9% m/m
after +4.1% m/m, remaining "at a very high level compared to 2000."
Unadjusted data showed a 15% drop in overall real sales on the
month.
Nominal February sales adjusted for the seasonal variations and the
number of shopping days were down 0.9% on the month and 1.0% lower on
the year.
The preliminary figures cover roughly 75% of large store and
mail-order sales in continental France and are subject to modest
revisions.
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