News

Footwear leads the way as retail sales soar

20/02/2008

While the USA and Europe are reporting slower retail sales due to the current economic concerns, Brazilian retailers are faring much better as a result of higher incomes and increased credit.

According to the latest figures released by the Brazilian Institute for Geography and Statistics (IBGE), retail sales in Brazil grew an impressive 9.9% in 2007 compared with 2006, boosted by a sharp rise in several sectors including footwear.

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