Menswear failures a certainty during the next two quarters
Figures released by Retail Excellence Ireland for the third quarter, to end September, show a clear continuation of the Irish retail industry’s decline. Menswear sales were worst hit during the period with a 23.76% like-for-like fall, with footwear also suffering heavily, down 18.23%.
With a 15.71% fall, womenswear performed rather better than the 16.46% like-for-like decline across the retail sector as a whole. Volume sales in the third quarter of 2008 were down 6.82% against the same period in the prior year, exacerbating the 2009 downturn.
In its analysis, Retail Excellence Ireland noted: “It is a surety that there will be significant failure in the menswear sector over the next two quarters.” It added: “The only positive which can be derived from the the period is that the rate of decline is levelling off.”
According to Retail Excellence Ireland, this is the 20th month of consecutive decline in Ireland.