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Retailers react to new CSO retail sales figures

Friday, 7 May 2010
Retail Ireland, the IBEC group that represents the Irish retail sector, today said that new CSO retail sales figures show some positive signs, but that high costs and poor sales continue to be an issue for the sector.

Retail Ireland director Torlach Denihan said: "The volume of core retail sales, excluding car, fuel and bar sales, increased somewhat in most categories of retail in March by comparison with both the previous month and March 2009. Unfortunately the value of sales for both March and the entire first quarter is well below the corresponding 2009 figures.

"The problem is that retailers have cut their prices, and their monthly takings are well down. However, their costs, particularly rents and rates, have not fallen. While the latest figures give grounds for hope, the sector continues to grapple with very high costs and poor sales" concluded Mr Denihan.

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© Irish business and employer confederation (IBEC), 2010
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