Worst retail figures ever in May

THE retail sector has never been in a more fragile state with figures showing May was the worst month for trading since records began.

Retail Excellence Ireland states that sales in the second quarter of this year are down more than 16% compared with the same period last year. Retail trading entered its 16th month of consecutive decline in June, but the decline did ease slightly.

The average transaction value – €47.55 – was the lowest since records began two years ago while average retail sales per square foot were down 24% to €143.21 in quarter two compared with the same period in 2008. Wage costs as a percentage of sales remains virtually on par with quarter one at 18%, compared with 16% this time last year.