South African Retail Sales Jump 96% in April

South African Retail Sales Jump 96% in April

South African retail sales jumped 95.8 percent year-on-year in April following a revised 2.3 percent contraction in March, Statistics South Africa said on Thursday, according to a Reuters report.

On a month-on-month basis sales were down 0.8 percent, and in the three months to the end of April sales rose 18.7 percent compared with the same period last year, the statistics agency said.

South Africa was under a strict lockdown to curb the spread of the coronavirus in April last year affecting non-essential retailers.

Last week, one of South Africa’s largest fashion retailers, The Foschini Group Ltd, announced plans to extend its cheaper South African clothes offering by opening 100 Jet stores over the next three years, reflecting the toll the pandemic has taken on consumer spending along with the opportunities offered by shorter leases and lower rents.

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