Retail Sales across all sectors showed a modest increase of 1.86% in the first week of June, with all sectors other than Fashion & Accessories improving. Fashion & Accessories sales slumped by 7.45%, which interestingly mirrored a similar decline in sales in the same week in 2013, with sales in that week dropping by 5.92%. If history is anything to go by, Fashion retailers have no cause for concern as next week should bring double digit growth in their sector, particularly with the Queen’s Birthday long weekend providing consumers with an additional ‘shopping’ day. Visit the Australian Retail Index for the week’s full results.
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Aaron Blackman is the CEO of Retail Express. Follow Aaron on Google+