Business Irish

Sunday 22 September 2019

Worries over UK's departure lead to softening retail sales

Lack of strong growth was also influenced by the wet and cooler summer. Photo: PA
Lack of strong growth was also influenced by the wet and cooler summer. Photo: PA
Ellie Donnelly

Ellie Donnelly

There has been a softening in retail sales, as concerns over Brexit affect consumer spending, according to the latest Retail Monitor from Ibec.

This pattern looks set to continue, with Thomas Burke, director of Retail Ireland - a division of lobby group Ibec -warning that "choppy waters" lie ahead for the sector.

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"Our consumer is now hyper conscious of the negative impact a no-deal Brexit could have on their personal finances and that means they are likely to react quickly to any sub optimum outcome," he said.

Despite this, the value of sales grew by 2.4pc in the three months to June 30, while sales volumes grew by 4.1pc in the same period, demonstrating steady but not spectacular growth.

The lack of strong year-on-year growth was also influenced by the relatively wet and cooler summer.

Businesses in the DIY and hardware sector experienced a subdued second quarter, while sales in footwear and textiles posted declines of 3.6pc and 2.4pc respectively.

Irish Independent

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