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Gert fails to prevent rise in retail sales

The total value of retail sales in Bermuda has increased by over ten percent for the month of September, despite the threat of Hurricane Gert closing shops.

The figures were released yesterday by the Statistics Department of the Ministry of Finance, and according to the department, the main reason for the increase of 10.6 percent was a huge jump in sales in cars and motorcycles and a rise in petrol sales.

Without these increases, retail sales would have only risen by 6.7 percent on last year.

After adjusting for inflation, which came in at 2.8 percent for the month, the volume of total sales increased by 7.7 percent.

Gross turnover for September was estimated at $50.3 million. There were 24 shopping days in the month, one less than in 1998, because most retail outlets closed on 21 September, due to the threat of Hurricane Gert.

Sales by motor dealers took a huge leap up -- 37.6 percent on 1998. Nearly all dealers had stock on hand so consumers were able to drive off with the model of their choice. Petrol sales went up moderately.

Food stores also sold more this month. Sales increased 6.2 percent on last year and liquor sales rose by a more modest 2.4 percent.

In general stores sales were up 7.7 percent, and leading the way were the hardware stores where sales remained strong due to the robust construction industry.

Furniture sales were also up, but the shops did not have a single reason for the surge in sales. Pharmaceutical sales went up marginally. Department stores, as well as other smaller outlets catering to both locals and tourists continued to report a decline in overall sales.

Spending by residents returning from overseas visits increased 9.1 percent to $2.87 million in September.

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