Retailers hope for bank holiday boost

The beleaguered retail sector is hoping for a boost this bank holiday weekend, after a slow start to the year.

A new survey conducted by the Dublin Business Improvement District (BID) found that the majority of the large stores in Dublin city centre will remain open on St Patrick’s Day, despite closing in previous years.

With Mother’s Day falling the following day, retailers are hoping for a last minute lift in trading, and some are even extending their opening hours.

According to the survey, which questioned 27 of the biggest stores in the city centre, 70 per cent of businesses intend to open on Saturday.

"Traditionally the large crowds in the city centre on the day itself are there for the festivities rather than shopping,” said director of Ibec group Retail Ireland Stephen Lynam. “The fact that St Patrick's Day is a Saturday, usually the busiest shopping day of the week, and falls the day before Mothers Day has encouraged retailers to open their doors, with some extending their opening hours.”

Core retail sales volumes, excluding the motor trade, fell by 1.6 per cent between December and January, and 2.7 per cent on an annual basis.

Department store sales in January fell by 18.4 per cent, with electrical goods 12 per cent weaker and sales of clothing, footwear and textiles falling by 5.7 per cent.

Retail Ireland has called for action on high costs facing retailers, including rents and rates. The group is also seeking a reversal of the 2 per cent VAT increase, if the Government does not meet targets at the end of the month.