Core Retail Sales Figures Remain Volatile: Ibec
Published on Aug 29 2017 11:36 AM
Despite a return to growth in retail sales values, core retail sales, excluding motor trades and bar sales, remain volatile, according to Retail Ireland.
Retail sales in July decreased by 0.6% when compared with June, indicating a mid-summer dip in performance.
The Ibec group that represents the sector, said that broader retail trends remain positive, with sales increasing by 3.5% in the year to date.
"While there may be a perception that all is well again in the retail sector, much of the current growth is being driven by deep discounting in shops and ongoing sales activity." Retail Ireland Director Thomas Burke said.
"Such prolonged discounting, while necessary in the current uncertain consumer market, is undoubtedly draining profits for retailers."
Burke outlined that despite the dark clouds on the horizon, retailers remain hopeful that the current back to school period can inject some positivity into the market and enable a strong performance in the second half of the year.
© 2017 - Checkout Magazine by Donna Ahern