Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Monday, 6 March 2017

Death of the department store?

Retail bounced

After a negative result of -0.1 per cent in December, retail turnover increased by an improved +0.4 per cent in January to $25.7 billion. 

Year-on-year retail turnover growth has steadied at 3.2 per cent in trend terms.

It's been a bit of a mixed story around the traps in recent times, and surprisingly South Australia now leads the way in terms of retail turnover growth with a +4.5 per cent increase over the year to January. 

Department stores are having a torrid time, with retail turnover declining by 3.9 per cent over the past year, while the share of total turnover relating to this sector is in a sweeping secular downtrend. 

On the other hand the dining out industry continues to boom, with retail turnover once again recording a massive 6 per cent year-on-year growth. 

In fact, while department stores have struggled to maintain market share, the eating out sector has continued to flourish. 

Overall, a decent monthly result, if not spectacular. 

Online retail turnover contributed 3.6 per cent to total retail turnover, according to the ABS.