RETAILERS SAY a lively start to the new year sales has helped them recover some of the ground lost during disappointing pre-Christmas trading.
In many shopping areas, the number of sales shoppers is on a par with last year or even up, but consumer caution is evident from decidedly mixed sales figures.
For many shops, the busy period of the sales ends today, when most schools reopen after the Christmas break. Signs on shop windows show that most retailers are offering further reductions in an effort to keep consumers parting with their cash.
Arnotts said it was pleased with the early results from the sales. "We had expectations that the challenging climate we saw before Christmas would continue after the holiday but thankfully in the past 10 days we've had good sales," said Peter Scott, retail operations director.
"We've made up some of the ground we lost pre-Christmas but it won't be enough to put us back on track for the whole year."
Monday in particular was a busy day, he said, perhaps because schools reopened later than usual.
Don Nugent, manager of the Dundrum shopping centre, said the number of sales shoppers coming through its doors last week was up 17 per cent on last year. Sales were also up, but when new stores which opened in the centre last year were allowed for, they were "holding".
Mr Nugent said stores were reporting growth of 15-20 per cent in ladies' and children's clothing and 10 per cent in menswear.
However, the coming months would be challenging, he cautioned. "It's not that people don't have access to funds, it's that they don't want to get themselves into trouble."
PJ Timmons, chief executive of Clerys, said sales were "holding up, surprisingly" and its stores were up slightly on last year.
"We're ahead of where I was forecasting, but the reality is that it's before Christmas when stores make their money, and the sales are all about liquidating stock."
He said shoppers were focusing on homeware, such as linens, kitchen equipment and gifts, and less on clothing. Weekend trading was weaker than expected, perhaps because shoppers were heading north.
Tom Coffey of the Dublin City Business Association said the sales season had been "all right". The number of shoppers on the streets of the capital in the last half of December was up 4 per cent on last year, but they were buying less and, consequently, turnover was down.
While overall figures for footfall and sales revenue weren't available yet, early indications were that volumes increased as Christmas approached and the sales started.
"People aren't spending in the same way anymore . . . They're coming in to the shops, but buying just one item instead of two or three as they would have done before," he added.
One factor was the lack of any SSIA savings money in the economy, he said. "But I also blamed the fear factor generated by so-called celebrities with self-serving agendas, who are driving everything into the ground and frightening consumers."
He forecast a quiet first few months of the year for retailers and warned that outlets would have to cut costs by letting staff go if trading conditions persist.
Mr Scott said the massive redevelopment of Arnotts on Henry Street as part of the North Quarter project was "ready to go" with construction due to start at the end of this year or early 2010.
There was no question of the project being delayed because of the difficult financial environment, he added.
Tailor Louis Copeland is feeling the caution among male shoppers more than most, with sales down 20 per cent over the past six months. Mr Copeland predicts "more of the same" in the coming months and admits he'll be glad if sales stay at the current level.
Ever the optimist, however, he sees hope coming across the Atlantic: "Barack Obama will be the biggest thing to hit men's clothing in years.
"He's a natty dresser, and so is his wife. We'll be hoping he'll lift a few boats".