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Retailers, hoping for boost, discount for Cup Match

Major job: Projects including the new hospital increased demand for building supplies in May

Retail sales rose 0.7 percent in May driven by an increase in sales of building supplies and liquor.The numbers were also boosted by an extra shopping day compared to May 2011. However, after taking into account the impact of inflation, sales volume was down 1.1 percent.Apparel stores’ takings also went down for the fourth month in five this year, by 4.4 percent.Retailers, though, are hoping that the Cup Match holiday will help boost sales.“Cup Match is one of the most significant Bermudian holidays on the retail calendar,” said Paula Clarke, chair of the Bermuda Chamber of Commerce’s retail division.“It’s the midsummer family holiday that motivates people to get out and about with friends and family. Whether it’s watching cricket, camping, boating, swimming, BBQing and following family traditions enjoyed by young and old. The retailers are ready with all the supplies to support these activities and you can bet there will be great values offered.”Advertisements for sales have been noticeable over the last week with retailers offering steep discounts up to 60 percent off and promoting contests and giveaways.Jeans Express on Queen Street is offering up to 50 percent off items, the summer stock at Seasons and Size Wise in Paget is 30 to 60 percent off and BGA is promoting a weekly draw to win Cup Match gear with a purchase of Bounty, Charmin or Puffs products.Batteries are on sale for less than $4 at MarketPlace and a 32-pack of 16 oz bottled water for $13 at Arnold’s Discount Warehouse on Ewing Street.According to Ms Clarke, who is also the CEO of Gibbons Company, the store is making a “big deal” out of the Cup Match holiday, offering deep discounts that rival the popular Black Friday sales.“We will be decorating the outside of the store with Cup Match colours,” she said. “We will have an incredible two-day sale event with saving that are better than Black Friday. We are open late Friday night, offering free eye makeovers by Chanel, Dior, Guerlain and Black Up.”Live models will be in Mens’, womens’, plus size, juniors, lingerie and children departments showing the latest arrivals for Cup Match.“On Saturday only we will have high fashion, high style Flip-flop Extravaganza for $5,” added Ms Clarke. “We are limiting six pairs per customer! Doors open 9:30am sharp. Styles for men, women and children.”According to the Retail Sales Index for May, consumers spent $83.2 million on retail goods representing an increase of $0.5 million year-over-year.Liquor stores, all other store types, and building material stores all registered increases in sales. In contrast, motor vehicle dealers, apparel stores, service stations and food stores reported lower sales activity during the month.Overseas purchases brought back by residents through the LF Wade International Airport plummeted by 11.1 percent to $5.6 million.Continued demand for structural supplies for projects like the King Edward VII Memorial Hospital and Waterloo House helped to drive a 4.8 percent sales increase for building suppliers.Liquor stores saw a 7.6 percent increase in sales, boosted by an additional discount shopping day before the Bermuda Day holiday.Gross receipts for food store slid by two percent compared to May 2011.Motor vehicle sales plunged nearly 40 percent in May, as 38 fewer cars were sold. In contrast, 68 more motorcycles were sold.A 2.2 percent fall in fuel prices was the main driver of a three percent fall in revenue at service stations.Tourist-related stores saw their sales increase 4.8 percent, while gross sales of pharmaceutical products grew 6.3 percent.