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Company News

German retail sales seen up 1.2% y/y in Nov-Dec period - HDE

BERLIN, Nov 5 (Reuters) - German retailers are expected to increase their revenues by 1.2% year-on-year in the Christmas season, industry association HDE said on Thursday, thanks to booming online sales as well as furniture, home improvement and grocery stores.

Online sales are expected to rise by 19% to 17.5 billion euros in the November-December period, HDE added, while brick-and-mortar stores of clothing, perfume and toy retailers are impacted by lower footfall due to the pandemic.

For 2020, the association expects total retail revenues to increase by 1.5% to around 552 billion euros. (Reporting by Thomas Seythal Editing by Riham Alkousaa)

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