sales growth


Wall St edges higher on generally positive earnings

NEW YORK, April 17 — US stocks ended slightly higher yesterday, with the S&P 500 inching closer to its all-time high following a string of mostly positive earnings, while a drop in healthcare shares limited the advance. All three major US…

Wall St rises on tech boost, robust Johnson & Johnson earnings

NEW YORK, April 16 — US stocks rose today, powered by stellar results from healthcare conglomerate Johnson & Johnson and gains in technology stocks, with the benchmark S&P 500 less than a per cent away from its all-time high. Johnson &…

AFP poll: China’s economic growth cools to 6.3pc

BEIJING, April 16 — China’s economy cooled further in the first quarter, according to an AFP survey of analysts, as Beijing resorted to tried-and-tested measures to combat tepid global demand and a bruising US trade war. The world’s second…

China’s economic growth cools to 6.3pc, poll finds

BEIJING, April 14 — China’s economy cooled further in the first quarter, according to an AFP survey of analysts, as Beijing resorted to tried-and-tested measures to combat tepid global demand and a bruising US trade war. The world’s second…

CEO hails Tesco recovery as profit and dividend jump

LONDON, April 10 — Tesco reported a better-than-expected 34 per cent rise in full-year operating profit and hiked its dividend today, cementing the recovery of Britain's biggest retailer under boss Dave Lewis. “After four years we have met or…

Pandora seeks to charm China with locally-inspired jewellery

COPENHAGEN, April 10 — Danish jeweller Pandora is turning to traditional Chinese symbols such as peach blossom in a new collection aimed at reviving its fortunes in the world's biggest market for luxury brands. The collection, to be launched…

Proton X70 breaks record for delivery numbers in SUV segment

KUALA LUMPUR, March 28 — Proton’s first sport utility vehicle (SUV), the Proton X70, has broken all previous records for delivery numbers in its segment, establishing the national automotive brand as one of the leaders in Malaysia’s…

Perodua targets 50pc share of Sabah auto market

TAWAU, March 23 — Perodua Sales Sdn Bhd is targeting to capture a 50 per cent share of the automotive market in Sabah this year, said its managing director Datuk Dr Zahari Husin. He said there was good demand for its vehicles in Sabah, with…

Retail sales growth slows to 2.7% in last quarter of 2018

KUALA LUMPUR: Malaysia’s retail industry reported a disappointing growth rate of only 2.7% in the fourth quarter (Q4) of 2018, as compared with 3.1% in the same period in 2017, according to Retail Group Malaysia (RGM).

“This latest quarterly result did not meet market expectation. Members of MRA (Malaysia Retailers Association) projected the fourth quarter growth rate in November 2018 at 4.7%,“ the independent retail research firm said in a report today.

“Year-end festival and school holiday did not contribute to better growth rate during this quarter.

“This latest quarterly result is consistent with Consumer Sentiment Index during the same period published by MIER (The Malaysian Institute of Economic Research). Rising cost of living and stagnant take-home pay continued to deteriorate the purchasing power of Malaysian consumers,“ RGM said.

For the whole of 2018, the retail sales expanded 3.9% or RM103.7 billion. Despite the three-month tax holiday, it failed to lift the sluggish retail industry.

Worth noting is that for the sixth consecutive year, the retail industry performance lagged behind the country’s gross domestic product (GDP) growth rate.

During Q4 of 2018, the performances of all retail sub-sectors were mixed. Supermarket and hypermarket sub-sector was the worst performer, while pharmacy and personal care sub-sector was the best performer during the quarter.

“Members of the retailers’ association are hopeful that their businesses will stabilise in 2019. They estimate an average growth rate of 3.1% during the first quarter of 2019,“ RGM said.

Based on its first quarterly projections of retail sales for 2019, RGM estimated a 4.5% growth rate in retail sales for this year or RM108.3 billion.

For the first two months of 2019, retail sales were lackluster despite Chinese New Year festival celebration. Q1 retail sales are estimated to grow at 3.1%.

Nonetheless, Malaysia’s retail industry is expected to recover in Q2 with an estimated growth of 4.8% on the back of Hari Raya celebration. For Q3, retail sales are expected to expand by 3.9%.

“More economic activities during the second half of this year should boast retail sales during the final quarter of this year. During the year-end period, retail sales should rise by 5.8%,” RGM said.

2019 retail sales seen growing 4.5pc

KUALA LUMPUR, March 19 — The Retail Group Malaysia (RGM) estimated the industry’s total sales to expand by an estimated 4.5 per cent this year. The retail consulting firm said this was based on its first quarterly projections of retail sales for…