BUSINESS IN SHORT

Retail revenues fell in December

REVENUES in the retail sector continued their year-on-year decrease at the end of 2012. In December, they dropped by 4 percent to €1.732 billion, the Statistics Office announced as reported by the SITA newswire. The last time the revenues went up in the year-on-year comparison was in May 2012. The overall drop in 2012 compared to 2011 was 1 percent.

REVENUES in the retail sector continued their year-on-year decrease at the end of 2012. In December, they dropped by 4 percent to €1.732 billion, the Statistics Office announced as reported by the SITA newswire. The last time the revenues went up in the year-on-year comparison was in May 2012. The overall drop in 2012 compared to 2011 was 1 percent.

In December retail revenues continued to decline both in the food and non-food sectors, according to UniCredit Bank analyst Ľubomír Koršňák.

“The growing insecurity on the labour market couldn’t be overcome even by the Christmas holidays and the revenues of the Slovak retail sector thus moved the pre-crisis minimum down again,” Koršňák told SITA. He does not expect any significant revival of the market at the beginning of 2013 either, since consumer confidence remains low.

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