Sector movers: Retailers fall despite higher sales

7th Sep 2010 12:19

Well-received results from Sports Direct and a rise in shop sales have failed to lift the retail sector.Sports Direct said total sales rose 8.8% in the first quarter despite being left with a pile of unsold England kits after the team left the World Cup earlier than expected.The owner of Sports World stores and Slazenger and Dunlop brands said total group sales increased to £408m for the 13 weeks ending 25 July 2010 from £375m a year earlier. Gross profit during the period increased 17.8% to £185m.Parents stocking up on school clothes ahead of a return to the classroom gave retail sales a welcome boost in August, although the figures were "nothing to write home about".The British Retail Consortium (BRC) reported total sales rose 2.8% last month and by 1% on a like-for-like basis, which strips out new store openings.Among the retailers dragging the sector lower are Sports Direct's rival JD Sports Fashion.Top performing sectors so far todayIndustrial Transportation 2,281.50 +0.72%Household Goods & Home Construction 6,281.45 +0.14%Industrial Engineering 5,444.03 +0.02%Bottom performing sectors so far todayAlternative Energy 3,794.80 -3.88%Industrial Metals & Mining 6,076.76 -2.56%Technology Hardware & Equipment 547.44 -1.95%Oil Equipment, Services & Distribution 19,928.69 -1.92%General Retailers 1,569.96 -1.85%