Retail sales in October fell 3.8 per cent compared with the same month in the previous year.

In 2015, retailers received a boost during October from the island’s hosting of a Louis Vuitton America’s Cup World Series event, while this year the month was marked by disruption caused by Hurricane Nicole, which was a factor in the drop in sales.

Retail sales were 3.2 per cent lower, year-on-year, at $92 million.

Five of the seven sectors experienced decreases in sales revenue. Apparel stores registered the largest drop in sales receipts of 22.8 per cent, sales volume was down by a similar percentage. Liquor stores recorded a gain in sales of 5.2 per cent.

Returning residents declared overseas purchases valued at $4.2 million, unchanged from October 2015. This contributed to a combined local and overseas spending of $96.2 million.

After adjusting for the annual retail sales rate of inflation, measured at 1.2 per cent in October, the volume of retail sales decreased 4.9 per cent.

Motor vehicle stores saw a 20.1 per cent drop in the value of sales, with a 19.8 per cent decrease in vehicles sold.

All other store types recorded sales receipts down 2.4 per cent, year-on-year.

Receipts from food sales were up 1.2 per cent. However, the sales volume of food and liquor stores were down 0.1 per cent and 0.3 per cent, respectively.

The Retail Sales Index data was released by the Bermuda Government Department of Statistics.

See Related Media for Retail Sales Index bulletin.