Neil Bannon – September Retail Sales

September Retail Sales indicate that at least one part of the economy is definitely experiencing a K shaped recovery. The stellar numbers that continue to come out of the DIY sector (YOY: Hardware +27.6% YOY, Electrical +21.1% & Furniture +11.9%) contrast sharply with Bars which are predictably down 48%.

What’s interesting is that total value of retail sales was up 7.2% year on year which means Irish consumers spent a lot more this September than last year.

This was all before the lockdowns started again which if recent experience is anything to go by will exacerbate the K shaped nature of the market performance.