{{ vm.siteSelectorList.flyout.cell1.heading }} The month was also defined by millions ofThe value of overall retail sales fell 8.7% from the prior month, the biggest decline in records dating back to 1992, according to Commerce Department data released Wednesday. Smart retailers will already be thinking about what this means for the future, but the resilience of the sector cannot be underestimated. You will not continue to receive KPMG subscriptions until you accept the changes. The UK firm recorded a revenue of £2.40 billion in the year ended 30 September 2019. The closure of non-essential shops led to deserted high streets and high double-digit declines in sales which even a rise in online shopping could not compensate for. Meanwhile, essential retailers have focussed on stabilising their supply chain and product availability, whilst focussing on the safety and welfare of their employees and customers.“An uncertain future lies ahead and the industry’s reset button has clearly been pressed.
Retail sales remained weak across all the sub-categories.

Consequently, hundreds of thousands of jobs at are risk within these companies and their supply chains. retail sales and factory output posted historic declines in March, and other figures showed that the worst is yet to come.“March retail sales posted the worst decline on record, but there are compelling reasons to consider that the stunning collapse did not reflect the true extent of the pullback. The Census Bureau U.S. Retail Sales Take Record 8.7% Tumble in March One bright spot: Food and beverage stores posted a record 25.6% surge as Americans stocked up on essential goods; sales also rose at health and personal care stores, general merchandise stores and nonstore retailers. “As well as tackling the immediate challenges of the Coronavirus (COVID-19) impacts, retailers need to have an eye on the future. Save what resonates, curate a library of information, and share content with your network of contacts. All rights reserved. Click anywhere on the bar, to resend verification email.© 2020 KPMG LLP, a UK limited liability partnership, and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. We want to make sure you're kept up to date. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. But most categories were down sharply, with clothing stores’ sales falling by half, while restaurants and bars were down 26.5%. {{ vm.siteSelectorList.flyout.cell1.global.countryLocale }} The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. In March, UK retail sales decreased 3.5 percent on a Like-for-like basis from March 2019, when they had decreased 3.5 percent from the preceding year*. You will not receive KPMG subscription messages until you agree to the new policy. On a seasonally-adjusted basis, retail sales rose 0.2% in March, contrasting the 20.5% drop in At the same time, supermarkets brace themselves for lower sales, while still spending huge sums on protective measures, donating to food banks and hiring tens of thousands of temporary staff. “When you shut an economy down, you’re basically turning the lights off. Seasonally adjusted total volume of retail sales fell 0.7 percent in the March 2020 quarter compared with the December 2019 quarter. Our privacy policy has been updated since the last time you logged in homebuilder sentiment plunged in April to the lowest level in almost eight years as the pandemic kept potential buyers quarantined and paralyzed construction, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index.Before it's here, it's on the Bloomberg Terminal.
* Note 2020 is a 53-week year in the ONS calendar: as a result of the extra week in January 2020, the comparable 2019 performances cited here may differ from those published last year, due to the one-week shift in the comparison.

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