Retail sector notches up better than expected growth for October
By Sunita Menon - Dec 13th 2018, 08:11
The retail sector experienced bigger than expected growth at the start of the fourth quarter.
Retail trade sales increased 2.2% year on year in October 2018 after a contraction of 0.7% in September.
The muted growth in September was higher than economists’ consensus of 1.5%, according to a poll by Bloomberg.
The Bureau of Economic Research (BER) retail survey said “retailers expect conditions to improve somewhat in the fourth quarter of 2018”.
The boost came from retailers in household furniture, appliances and equipment (10.1%); all “other” retailers (6.2%); retailers in pharmaceuticals and medical goods, cosmetics and toiletries (4.2%); and retailers in textiles, clothing, footwear and leather goods (3.4%).
October’s total retail sales came to R85.7bn. In “constant prices” set to 2015, which Stats SA uses to strip inflation out of its sales growth figures, October’s retail sales amounted to R75.8bn.
Compared to the month prior, retail trade sales increased 0.6% in October 2018.Business Live
Sugar importers bitter about consumer prices
19/07/2019 - 10:57
Sugar importers want to know why the industry is subsidised to the extent that consumers are being forced to pay about double the world price.
US retail sales rise as households spend more
18/07/2019 - 14:16
US retail sales increased more than expected in June, pointing to strong consumer spending, which could help to blunt some of the hit on the economy from weak business investment.
Strong Asia growth boosts Richemont’s first-quarter sales
18/07/2019 - 13:38
The luxury-goods company reports a 9% year-on-year increase at constant exchange rates.
Refinery celebrates diversity with new fashion campaign
18/07/2019 - 11:39
Local fashion retailer Refinery is set to make waves across the local industry with its new spring campaign which embraces diversity, encouraging others to be unashamedly, authentically themselves.
Amazon offers $10 to Prime Day shoppers for access to their data
18/07/2019 - 09:53
Amazon.com has a promotion for US shoppers on Prime Day, the 48-hour marketing blitz that started recently: earn $10 of credit if you let Amazon track the websites you visit.