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
9 safety tips to help curb cash crimes in SA's stores
22/04/2019 - 10:03
Retailers must accept that cash crime is prevalent in SA and not going away any time soon, says Richard Phillips, joint CEO of retail cash management company Cash Connect.
Retail sales beat expectations in February
19/04/2019 - 12:39
SA shoppers spent more than expected in February, with retail sales growing 1.1% year on year, led by expenditure in the textiles, footwear and clothing sector.
Asian revenue surpasses European for first time at L’Oreal
18/04/2019 - 09:07
L’Oreal got more revenue from Asia than from Western Europe for the first time last quarter as the region’s surging demand for luxury products continued to resist the drag of a slower Chinese economy.
Easter is also a feast for criminals, retailers and consumers warned
18/04/2019 - 09:01
There is a tendency among criminals to use the Easter long weekend - and its spike in shopping - to their advantage, says Richard Phillips, joint CEO of retail cash management company Cash Connect.
Checkers hot cross buns go viral
17/04/2019 - 13:42
Checkers hot cross buns are trending on social media and South Africans are in stitches following the release of a viral video in which a false-positive breathalyser reading was recorded for a police officer.