According to Shanghai Apparel Association, CNY280 million was spent in Shanghai top 10 department stores in Aug. 2011, edging down 10.1 per cent m/m (-9.7% y/y). We’ve seen slight decrease in the retail volume of about 8.8 per cent m/m to 78,000 pieces. Average price in Aug. was CNY341.6/piece (set), up 15.5% y/y.