Monday, 29 June 2015
Retail Ireland, the Ibec group that represents the retail sector, today said that the latest CSO Irish retail sales figures highlight the continuing recovery of the retail sector, but the group said many retailers continue to struggle with pre-recession legacy costs that remain high. Competition is intense and this is keeping prices low for consumers. Sales still remain 17% behind pre-recession levels. Data for May recorded a 2.2% increase in total value of sales (excluding cars sales and sales in bars) compared with the same month last year, with a corresponding 5.4% growth in volume.
Retail Ireland Director Thomas Burke said: "It is encouraging to see both value and volume increases across almost all retail categories on an annualised basis. The summer season will be crucial in determining whether the positive momentum can be maintained. Now more than ever, retail operators need Government support and action on legacy cost issues in order to secure a sustainable recovery."