No let-up for shop owners as retail sales plunge – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

Log In

Reset Password
BERMUDA | RSS PODCAST

No let-up for shop owners as retail sales plunge

Retail sales fell by almost 11 percent in October, figures released this morning show.

According to the Retail Sales Index, shoppers spent an estimated $84.1 million a decrease of 8.3 percent or $7.6 million less than in October last year.

According to the report, all sectors in the retail industry reported year-over-year sales declines with the exception of service stations, which reported a minimal increase in sales revenue.

Residents returning to the Island from business and vacation trips declared overseas purchases of $5.6 million last October and as a result, combined local and overseas spending totalled $89.7 million during the month, down 7.3 percent from the October 2009 levels.

However, after adjusting for the annual retail sales rate of inflation, measured at 2.7 per cent, the volume of retail sales contracted by 10.8 percent.

You must be Registered or to post comment or to vote.

Published December 14, 2010 at 1:00 am (Updated December 14, 2010 at 1:19 pm)

No let-up for shop owners as retail sales plunge

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon