Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  News  >  Economy & Forex

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

More than half of German retailers pessimistic about Christmas - HDE

11/29/2020 | 11:55am EST
FILE PHOTO: Empty stores due to the spread of COVID-19 in Cologne

BERLIN (Reuters) - More than half of German retailers expect fewer customers and falling sales over the crucial Christmas period, according to a survey of 550 companies by the German Retail Association (HDE).

"The prospects for Christmas business in this coronavirus year are worryingly poor, especially for many inner-city retailers and especially the fashion houses," said HDE managing director Stefan Genth on Sunday.

Around 52% of companies expect significant losses in sales and customers after the extension of the country's partial lockdown into December, the survey found, with 62% of retailers surveyed pessimistic about the further course of Christmas business.

"November and December are normally the strongest months of the year in terms of sales for many retailers. If these sales are now lost, many businesses will be in trouble".

The survey found that 38% of the retail companies overall and 45% of inner-city retailers see their existence threatened.

Retailers selling household goods, DIY supplies, furnishings and food, however, are reporting satisfactory to very good business, HDE said, while online sales are expected to rise by a third compared to the previous year.

Overall, the HDE retail association expects sales for November and December to rise by 1.2% this year to just under 104 billion euros (93.5 billion pounds).

(Reporting by Klaus Lauer; Writing by Caroline Copley; Editing by Frances Kerry)

© Reuters 2020
Latest news "Economy & Forex"
06:39aECB wants to put a price on climate risk in Lagarde's green drive
06:34aBoohoo and ASOS feast on remnants of UK high street brands
06:28aChina's c.bank to examine fintech firms for illegal unlicensed credit scoring business
06:27aFed set to look beyond possible post-pandemic inflation shock
06:23aUK SHOPPER NUMBERS UP 9% LAST WEEK : Springboard
06:21aGerman health ministry says we expect eu approval of astrazeneca covid-19 vaccine on friday
06:19aNigerian lawmakers target April or May to pass oil reform bill
06:16aFACTBOX : Rules that could be reversed under Democratic Congress
06:13aANALYSIS : Congressional Democrats face challenges in repealing Wall Street-friendly rules
06:13aBANK OF ISRAEL VS THE FX MARKET : Can $30 billion stem the shekel's ascent?
Latest news "Economy & Forex"