29 May '14, 4am

Retail sales down 0.4% in Q1 - #property #singapore

May 29, 2014 - CommercialGuru.com.sg E-mail to friend Bookmark & Share Retail sales (excluding motor vehicles) in Singapore slowed at the start of the year, declining by 0.4 percent year-on-year in March 2014, increasing the burden on retailers, who are already struggling with the rising cost of operations and the labour crunch, according to a Savills report. Despite the cooler retail sales, Orchard Road remained the focal point for new brands and names looking for stronger branding. In Q1 2014, retailers such as Sandro, Dior Backstage Studio and Alice & Olivia opened their first stores in Singapore at Ion Orchard, Miss Paris & Dandy House at Ngee Ann City, while Oasis set up its first standalone flagship store at Wisma Atria. The report noted that vacancy rates on Orchard Road climbed from 4.5 percent to 7.8 percent quarter-on-quarter in Q1 2014. Savills attributed the in...

Full article: http://www.commercialguru.com.sg/property-management-news...

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