- Retail demand continued to be subdued in quarter three with a soft July and August. Demand is expected to improve slightly in quarter four.
- Margins in quarter three also suffered. Heavy discounting continued during the summer months in fashion, and food prices too were under pressure. Quarter four looks little different.
- Costs remained largely neutral to health in quarter three. Legislation to extend Sunday opening hours over the course of the Olympic and Paralympic Games added some extra pressure. Rising fuel and commodity prices are expected to exert a more negative influence on retail health in quarter four.
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