Wendy Zhang/ Shanghai Daily news
More than half of the city's department stores reported sluggish sales this
month, today's Laodong Daily reported.
According to the Shanghai Business
Information Center, since the week-long National Day holiday from October 1 to
7, local department stores have registered a downward trend in sales, compared
with the upward trends recorded in previous years. Among the more than 50 stores
reporting this month, only two or three have enjoyed sales increases while more
than half suffered a more than 10-percent drop in business, with some even
reporting near 60-percent reductions.
The quarter from October to
December is the most important period for a department store, when sales usually
account for nearly 40 percent of total annual sales, said an industry analyst.
The excessive number of rainy days in November have had a negative impact on
sales, he explained.