According to a report issued by the Argentine Confederation of Medium Sized Companies (CAME), retail sales dropped by 12.1 percent compared to January 2008. This fall is posted despite the implementation of discounts and seasonal sales during the first month of the year.
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Shops and stores were also affected by a drop in their profitability due to the 12 months interest free installment payments
Even though major cities posted a bigger amount of commercial operations, visitors and tourists reduced their consumption this year.
Nineteen out of the twenty-two commercial activities comprising the retail offer reduced their sales whereas clothing, footwear, furniture, real estate agencies, clock and watch shops, and jeweler's decreased their sales by almost two digits.
Clothing and footwear posted the deeper drops by decreasing 20.5 percent and 26.5 percent respectively.
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