Tag: Retail

US retail sales in record monthly rebound

Image copyright Getty Images American shoppers returned in force in May, fuelling a record 17.7% monthly gain in retail spending after the lockdown triggered devastating declines in the previous months. The rebound only partially made up for the losses, leaving spending down about 6% year-on-year. And some sectors, such as clothing stores, have seen far steeper declines. Still, the increase… Read more →

Coronavirus: May ‘another month of struggle for retail’

Image copyright Getty Images May was another tough month for retail as coronavirus lockdown measures continued, a trade body says. Total UK sales fell by 5.9% compared with the previous year, dragged down by temporary shop closures, the British Retail Consortium (BRC) said. Online sales growth rose fifteenfold to 60.2%, but failed to offset this drop. Separately, Barclaycard figures suggested… Read more →

Coronavirus: Chinese retail giant Alibaba sees ‘recovery’ after virus

Image copyright Getty Images Chinese e-commerce giant Alibaba said it has seen a “steady recovery” in the country since March, but warned that the path to an economic rebound remains uncertain. The firm’s sales grew 22% in the three months to 31 March, despite virus-related restrictions denting activity. The gain was stronger than expected, driven by demand for groceries, electronics… Read more →

Coronavirus: Retail sales plummet as pandemic takes hold

Image copyright Getty Images Image caption Scotland’s major shopping streets have been eerily quiet during lockdown Scotland’s high streets took a massive hit last month as the full effects of the coronavirus pandemic took hold, according to a regular survey. Total sales plummeted year-on-year by 40.3% – the biggest fall recorded since the SRC-KPMG retail sales monitor began in January… Read more →