25
DATA
Retail sales feel the Chill
iRish uPdate
The Irish retail market
According to the BRC/ stronger gains than in January sales of non-food items such as continues to bear the brunt of
KPMG Retail Sales Monitor, UK and homewares and furniture homewares and fashion. the current economic downturn,
retail sales values rose 2.2 per returned to growth “Consumer confidence is according to the latest bi-
cent on a like-for-like basis from Non-food non-store sales certainly up on this time last monthly retail bulletin from
February 2009, when sales (including internet, mail-order year but, with unemployment CBRE.
had dropped 1.8 per cent, hit by and phone sales) in February rising again, spending plans are The most recent data from
snow and consumer caution. On were 15.5 per cent higher than falling. It’s clear customers are the Central Statistics Office
a total basis, sales rose 4.5 per a year ago compared with 14.6 still cautious.” showed that the volume of retail
cent against only 0.1 per cent per cent in January. And Helen Dickinson, head of sales in Ireland declined by 14
growth in February 2009. BRC director general retail at KPMG, added: “Another per cent in 2009 while the value
Food sales slowed further Stephen Robertson said: month of mixed performances. of retail sales declined by 18 per
after shoppers had stocked up “Despite appearances, these Clothing and footwear, as well cent in the period.
during January’s snow. Lower results are not that strong. as home accessories and Against this backdrop, CBRE
food inflation and consumer The growth is compared with textiles, continued to perform has more bad news to report.
caution also depressed sales. very weak figures a year ago well. However, other non-food In recent weeks, Brown Thomas
Non-food recovered, having when February saw the worst sectors were not so fortunate, has announced reduced profits,
been hit by January’s snow, of last winter’s weather and highlighting the difficulties in Debenhams has announced
but growth was often against this February’s performance enticing discretionary spending. more than 170 job losses in
larger declines a year ago. was helped by sales postponed The consumer remains cautious the Irish market, employees
Clothing and footwear showed from January – particularly and confidence fragile.” in Clery’s department store in
RETAIL SALES VALUE: Percentage change year-on-year
Dublin city centre have gone on
a four day week and Arnott’s is to
2008 2009 2010
Month
close its Jervis Centre ‘Arnott’s
Like for like Total Like for like Total Like for like Total
Project’.
January 2.6 4.9 1.1 3.2 -0.7 1.2 A number of retailers are
February 1.5 3.9 -1.8 0.1 2.2 4.5 continuing to go out of business
March -1.6 1.1 -1.2 0.6 including in recent weeks 3G,
April -1.5 1.0 4.6 6.3 Adams, Jeanscene, Ladybird,
May 1.9 4.6 -0.8 0.8 D2 Jeans and West Jewellers.
June -0.4 2.1 1.4 3.2 Bestseller Group is to close 14
July -0.9 1.7 1.8 3.6 outlets while Hughes & Hughes
August -1.0 1.4 -0.1 2.2 has gone into receivership.
September -1.5 1.0 1.6 3.7 However CBRE says a
October -2.2 -0.1 3.8 5.9 number of retailers including
4 0 November -2.6 -0.4 1.8 4.1 Tom Taylor and Decathlon
December -3.3 -1.4 4.2 6 are continuing to look for
3
-1
January – July average 0.2 2.7 0.7 2.5 opportunities in the Irish market.
2
January – December average -0.8 1.6
1.4 3.3
Aldi and Lidl remain aggressive
1 -0.2
on the expansion trail; Four Star
Source: BRC-KPMG RSM (food & drink data from IGD)
Pizza has announced plans to
0
open six new franchise stores
-0.4
-1
in 2010 and mobile network
operator 3 Ireland plans to open
-2 -0.6
Rents bottoM out, foReCasts C&W
new stores.
-3 Average retail property rents declined just over 8 per cent in 2009 according to Cushman & According to CBRE’s head
-0.8
-4
Wakefield. But the agent is forecasting no further falls for 2010. of retail in Ireland, Cormac
All retail Shopping centres
In its latest quarterly update on the UK market, Cushman & Wakefield says retail rents fell by a Kennedy: “Many retailers
-5
-1.0
further 1 per cent in the final quarter of 2009, but the rate of decline was slower than earlier in the are being proactive in the
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
09 09 09 09 09 09 09 09 09 09 09 09 10 09 09 09 09 09 09 09 09 09 09 09 09 09
year. Most of the UK’s major cities saw rental falls in the final quarter, although London has bucked current climate and looking
the trend throughout the economic downturn and rents have increased to new highs with Bond at restructuring their lease
Street recording a 9.7 per cent year-on-year rise. commitments. In many cases,
Occupier activity increased towards the year-end, although availability remains at just over 10 tenants are negotiating rental
per cent - down from around 12 per cent in October. And the agents says landlords continue to be reductions.
more realistic about rents and lease terms and are agreeing healthier incentive packages to achieve “It is difficult to determine
lettings. rental values although we
Darren Yates, associate in Cushman & Wakefield’s European research group, said: “Select parts of believe that prime headline
the UK retail market such as London continue to outperform and, encouragingly, there are signs in quoting rents are down
some areas where demand is beginning to exceed supply. While a strong demand-led recovery is not approximately 30 per cent from
on the cards for the immediate future, the retail sector is at least more stable than 12 months ago.” peak,” concludes Kennedy.
www.shopping-centre.co.uk March 2010 SHOPPING CENTRE
24-25-SCMar10-Data.indd 25 16/3/10 14:53:32
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44