Retailers warn 400 shops to close by end of month

SOME 400 retail stores will close by the end of the month as sales continue to plummet, a group representing the industry has warned.

Figures from Retail Excellence Ireland (REI) show the decline in sales continued through the final quarter of last year, with December being the 34th consecutive month showing a drop. More recently, the third week in January was singled out as one of the worst weeks for retail.

Footwear was the strongest performing sector and the only one to record overall growth of just over 3%. Ladieswear was the worst performing retail sector in terms of sales, reporting an 8.64% drop compared with the same period in 2009. The gift and homeware sector also struggled, with declines of 7.43% in November and 8.12% in December.