Bermuda's shops are strongly considering opening four days a week or reducing daily opening hours in response to the collapse in income resulting from the terrorist attacks in the United States, the Chamber of Commerce warned yesterday.

Chamber President Charles Gosling (pictured, left) said some Front Street stores are not taking enough money to cover their wage bills and that shops now consider the tourist season to be over - eight weeks earlier than usual.

Mr. Gosling said information from Bermuda Hotel Association showed hotel occupancy has slumped to just 20 percent compared to a normal 70 percent for this time of the year.

Leading Front Street and Reid Street retailers met with the Chamber yesterday and a further meeting will be held next week with the entire Sales Division, covering all shops in Hamilton, to decide if all shops will open four days a week.

Mr. Gosling told The Royal Gazette that some stores have said they will be forced to open four days a week, even if the Chamber as a whole is able to resist such a drastic move.

"It is our corporate philosophy at Goslings not to lay people off and I spoke to other people at the same meeting today who have the same philosophy," he said.

"That does not mean a significant part of the meeting today was not devoted to shorter opening hours and also the prospect of going to a four day working week rather than five days. I intend having a couple of meetings at the end of this week and beginning of next week, rather than rely on four or five retailers, and we intend that the sales division of the Chamber will get together.

"There are some retailers who would like to have the comfort of knowing that they are operating to some (Chamber) guidelines, but certainly there are some businesses who it doesn't matter what anyone else does, they are looking to shorter hours and a shorter working week.

"I have been calling around this afternoon and there are other businesses out there where they are in the process of shortly having boardroom meetings and these (four day work weeks) are some of the things they are discussing."

He said due to the tourist slump, Front Street retail sales are down a minimum of ten percent for April to September compared to last year.

"Since 11 September - the day of the terrorist attacks - there are some retailers on Front Street where their day's sale is less than they pay their staff in salaries.

"Retailers consider the tourist season is over as of 11 September whereas normally we would have another six to eight weeks.

"It's been a hard summer even for anyone who's had the opportunity of some tourist business. It's been a poor tourist season and there's a long hard winter round the corner. With the festive season, a lot have planned and ordered and received goods and know they are seeing the potential of poor Christmas business."

Mr. Gosling said retailers had approached Finance Minister Eugene Cox before the terrorist attacks to ask for breaks to stimulate the trade, but had left empty handed.

Because retail sales fluctuate with the tourist trade, the visitor retail division asked Mr. Cox for payroll reductions if sales fall below a certain level.

They also asked for duty breaks for stores carrying out significant refurbishment - similar to those offered to hotels under the Hotel Concessions Act - and a reduction of duty on clothing, but received nothing from Mr. Cox at the meetings.

"The situation is we are listened to politely and we leave the meetings on the best of terms, but having achieved nothing," said Mr. Gosling.

When asked if retailers were happy with the response of Government, he said: "No".

Mr. Gosling said next week retailers will draw up a further list of measures to put to Government which they see as essential if the economy is to be revived.