Eurozone footwear sales plunge
The Bloomberg Eurozone Retail index reveals that footwear and clothing sales fell in October, having risen sharply in September. The only sector of the five covered to show an increase in October was food and drink.
Overall sales fell below the 50 no-change mark that divides expansion from contraction and, at 47.9 in October, indicated a moderate month-on-month decline in sales, reportedly as a result of falling consumer confidence.
All three countries covered by the survey posted sales declines during the month. France registered the sharpest rate of decline, having posted a robust increase the previous month. The index dropped to 47.2 from September's five-month high of 54.2. Meanwhile, sales in Germany fell for the first time in three months in Germany. Month-on-month sales fell to 48.6. Furthermore, Italian sales fell for the eighth successive month in October, although the rate of decline eased significantly compared with September's low, from 44.1 to 48.
Sales in October were well short of planned levels as customer turnouts were worse than expected. However, retailers in the Eurozone, on the whole, remain confident that sales targets will be beaten in November.
