Report 3Special for reta il ar ye od A go
BBJ
Retail
SPECIAL REPORT:
RETAIL SALES GROUPS (%)
IN HUNGARY RETAIL TRADE OF HUF) (IN MILLIONS
2014
ON RETAIL VOLUME INDICES YEAR=100) UNADJUSTED PERIOD OF PREVIOUS SALES (SAME 2012.
2013.
Jan. Feb. March April May June July Aug. Sep. Oct. Nov. Dec. Jan. Feb. March April May
101 100.1 100.6 96.9 97.3 98.8 97.9 97.7 96.1 97.2 95.9 96,6 97.2 97.6 99.5 100.6 102.2
ITY BY MAJOR COMMOD
June July Aug. Sep. Oct. Nov. Dec.
2014.
Jan. Feb. March April May June July Aug. Sep.
26.74
3.20
3.66
Alcoholic beverages beverages Non−alcoholic
2.85
3.24
1.01
0.85
Coffee
6.41
6.32
Tobacco
6.15
5.13
3.58
3.40
4.38
4.23
1.74
1.89
1.17
1.15
0.65
0.6
0.68
0.67
0.87
0.82
0.77
0.83
0.75
0.73
0.71
0.68
0.17
0.12
1.73
1.91
0.75
0.96
0.63
0.81
2.27
3.66
0.54
0.79
1.47
1.2
1.15
0.83
0.51
0.53
0.05
0.06
0.16
0.16
0.2
0.15
1.84
1.68
0.3
0.35
0.65
0.55
0.29
0.31
1.04
1.16
18.07
18.81
5.08
5.02
100
100
l and medical goods Pharmaceutica toiletries Cosmetics and goods Textiles, clothing goods Footwear, leather
99.1 103.1 102.9 102.7 104.5 106 104
106.2 106.7 106.4 109 104.9 104.1 102.5 102 105
Furniture
of textile materials Household articles Lighting equipment Household articles household appliances Durable electrical electric appliances Small domestic equipment Radio, TV and video and discs Audio, video tapes Hardware Sanitary equipment materials and equipment Do−it−yourself Building materials lacquers Paints, resins and Books, news, stationery equipment Information processing and precision equipment Photographic, optical Wallpaper Floor coverings
Central Household fuel retailing, the automotive fuel (KSH) reported on Cleaning materials Statistics Office November 26. accelerated by Second−hand goods Retail sales growth months. the previous two 2.4%. 2.5% in each of Phones rose an adjusted Retail food sales were up 5.9% and and jewelry sales Watches, clocks showed Non−food sales increased 7.6%. levels. figures games and toys vehicle−fuel Year−on−year mber, retail sales Sports articles, throughout the In January−Septe to calendar− that positive improvements numbers show 5.1% according according to Automotive fuel year, and the latestThe volume of retail rose and 5% adjusted data sales rose an trend continuing. rise of 4.5% figures. Food Other articles sales were up sales saw a year−on−year increase unadjusted 5.4%, non−food with a y.o.y. Retail trade, total in September, for food, drinks and adjusted vehicle−fuel sales increased and in sales of 2.4% rise of 5.9% in non− 4.9% a 4.9%. tobacco stores, and a rise of 7.6% in by food retail trade
BBJ STAFF
recovered, and As the economy at a lively clip in grew Hungary’s GDP also grew to healthy 2014, retail sales
VOL. 22. NUMBER 22
Q2
Q1 28.19
Food
RETAIL NOVEMBER 28, 2014 – DECEMBER 11, 2014
BUDAPEST
BUSINESS JOURNAL HUF 1,250 | €5 | $6 | £3.5
HUNGARY’S PRACTICAL BUSINESS BI-WEEKLY SINCE 1992 | WWW.BBJ.HU
Members of GE and the American Chamber of Commerce in Hungary celebrated a quarter century in the country at a gala event inside the Parliament building, where Prime Minister Viktor Orbán reaffirmed Hungarian−U.S. friendship in spite of ‘debates on ideology or values’ and ‘disputes between U.S. corporations and regulatory authorities’. 10 NEWS
SPECIAL REPORT
NEWS
Taxes could profoundly impact some sectors
Retailers balk at new taxes, FX analysis: Refunds to plans for Sunday closings average HUF 1−1.5 mln
Our analysis of the new rules for 2015 finds a continued trend toward shifting the burden from income to consumption. Sectoral taxes are also continuing, and will feature new alcohol and tobacco levies. 03
While a tax structure that hits hypermarkets and a proposed Sunday closure law was fine with some local supermarkets, most of the larger foreign chains say they are feeling squeezed. 13
Analysts say the newly passed law on compensation to foreign exchange borrowers will net an average of HUF 1-1.5 million for debtors, without a serious short-term shock to banks. 04
Photo: Todoroff Lazar
Still sticking together