Advertisement

We need your help now

Support from readers like you keeps The Journal open.

You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.

If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.

/Photocall Ireland
Shopping not dropping

Retailers struggle with costs despite 6.2% sales bump this year

Despite a fourth straight quarter of growth, ISME warned that shop-owners are still under pressure

IRISH RETAIL SALES have increased by 6.2% in volume so far this year, outpacing growth in the value of sales, which stands at 4.1%, new figures from the CSO show.

In a statement following the data release, the Irish Small and Medium Enterprises association warned that costs for the retail sector continue to increase, with thousands of jobs still at risk despite the tentative improvement in the economy.

Davy research predicted consolidation of gains made to date in retail figures, with spend on discretionary items modestly rebounding, while sectors that had not been as heavily hit during the recession were not joining in the recovery.

Breakdown

The greatest month-on-month gains were seen in the motor trades, which increased sales by 4.6%, electrical goods, which climbed by 1.8%, and other retail sales, up 1.4%.

The sectors that slowed the most in May were furniture and lighting, posting a 6.9% decrease, books, newspapers and stationary, down by 3.9% and hardware, paints and glass, which suffered a 2% fall.

Meanwhile, Davy chief economist Conall Mac Coille said that the stockbrokers now expects retail spending when car sales are excluded to expand by 1% in the second quarter of the year, which would be a fifth consecutive quarter of expansion.

Read: ‘Tsunami’ of problems trip up retail sales in March>

Read: Irish consumers are happier than they have been in seven years>

Readers like you are keeping these stories free for everyone...
A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

Your Voice
Readers Comments
10
    Submit a report
    Please help us understand how this comment violates our community guidelines.
    Thank you for the feedback
    Your feedback has been sent to our team for review.