SINGAPORE (Jan 6): Retail sales in Singapore saw an overall drop in 2019, but the F&B and online components of retail sales saw some growth.

The online proportion of retail sales now stands at 6% compared to 4% at the beginning of 2018, while F&B sales growth was driven by restaurants, fast food and other eating places. Bucking the non-F&B food service retail sales declining trend were supermarket and apparel sales.

In a Monday report, lead analyst Andy Sim says, “Based on our coverage of Singapore’s downstream consumer sector, we are projecting that earnings will grow by about 10% in FY20F, on margin expansion and revenue growth of 6.5%. Companies under our coverage are expected to ring in productivity gains, better sales mix and a more efficient operational expenditure (opex).”

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook