Posts Tagged ‘British Retail Consortium’
CBI: Decline in retail sales slows in October
According to the latest Confederation of British Industry (CBI) distributive trades survey, the fall in retail sales slowed in October, but only a modest rise in volumes is expected next month.
Consumers continue to be cautious about the economic outlook and rein in their spending on the back of rising unemployment, higher inflation and slow wage growth.
The CBI’s survey established that 36% of retailers saw sales volumes fall during October compared to 25% who saw a rise.
As a result, the balance fell to 11% from 15%.
In the meantime, the expected sales balance for November rose to +4 – the highest since June.
The survey, meanwhile, also discovered that most sub-sectors suffered with falls in department stores, clothing and footwear.
Sales at department store sales fell at their fastest pace since May 2010, while clothing sales fell at their fastest pace since March 2009.
Commenting on the figures, CBI chief economic advisor Ian McCafferty, said: “High street sales remain difficult but the decline has stabilised, and retailers expect there to be some very modest growth next month in the build-up to Christmas.
“Family budgets continue to be stretched … and consumer confidence is severely dented. High street retailers are heavily discounting as they aim to provide the best possible value on basics. But consumers will continue on the back foot as real incomes remain squeezed,” he added.
In related news, the British Retail Consortium (BRC) said stores axed jobs at their fastest pace in two years in the July to September period.
Argos and Homebase sales down, Morrisons sales higher
There is a mixed bag of retail sales figures today after Home Retail Group announced a drop in sales at both its Argos and Homebase chains. The figures are further evidence of a cutback in consumer spending after electrical goods group, Dixons Retail, yesterday posted a fall in sales. At Argos, like-for-like sales in the [...]
BRC: UK retail sales weak in August
The British Retail Consortium (BRC) has today reported weak retail sales for August. According to the BRC, like-for-like sales (which exclude the impact of sales at new stores) fell 0.6% last month on an annual basis. Overall sales rose 1.5%, however, this was much lower than the 2.8% rise noted in August 2010. Commenting, Stephen [...]
Retailers assess riot damage to trading and staff
A snapshot survey of retailers hit by the riots two weeks ago found that across 899 stores retailers lost over 7,500 hours of trading and reported more than 11,000 members of staff affected by the violence. However, the British Retail Consortium (BRC) expects the damage to the sector as a whole to be “considerably higher” [...]
BRC: Retail sales down 0.6% in June
Retail sales fell in June as households continue to be squeezed by higher inflation and rising unemployment. According to the British Retail Consortium (BRC)/KPMG retail sales monitor, sales fell by 0.6% on an underlying basis last month, while total sales (including VAT) rose 1.5%. Food sales growth eased a little last month but a strong [...]