Canadian retail losing steam: Strapagiel

TORONTO — After showing real signs of recovery in the beginning of 2019, Canadian retail sales are hitting a slump, says retail consultant Ed Strapagiel, based on the latest StatCan numbers. The upward trend seems to have broken, he writes, which may or may not be a temporary setback. Both the three- and 12-month trends looked to be “on the mend” earlier this year but are now cooling off. Five months into the calendar year, retail sales are up just 2.3% from a year ago. The Store Merchandise sector also showed modest recovery but now seems to be losing momentum, including the 0.3% downturn in building materials and garden supplies.