Retail sales fell 0.7% last month, according to the latest electronic transactions data.

Core retail sales in the December quarter showed the largest rise since 1995. 

Latest retail sales figures have come out at double the average market forecast and show the largest quarterly rise since December 2006, at the height of the mid-decade debt binge.

The value of electronic card spending in retail industries increased 1.2 percent in June 2011 on a seasonally adjusted basis on the back of increased transaction value in all retail industries except fuel.

Two clear trends emerge in today’s retail sales figures.

One is that there was pre-GST surge – well, perhaps more of a spurt than a surge.

Secondly, the economic “rebalancing” with the government keeps talking about is manifesting itself in a drop in spending on grog.

Sales for bars and clubs fell 5.8%, or $17 million, in the quarter – the largest since the series began.

The trend has fallen 4.4% since December 2009.

Liquor retailing sales fell 4.7% or $14 million, and has fallen 7% since June 2009.

Kathmandu fell shy of its earnings forecasts when it revealed its full-year result today – its first as a listed company.

Earnings before interest and tax rose 12.4% to $47.9 million, excluding costs of its November IPO, below the $50.6 million forecast.

However the adventure wear retailer was able to raise its first dividend payout to 7 cents per share, from the forecast 6.7 cents, buoyed by strong operating cashflows.

Net profit for the year to July 31 rose $10.3 million to $25.2 million, excluding IPO costs.