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06/03/2012
Consumers Still Not Spending
Shoppers have continued to keep their spending in check despite recent signs of hope for the UK economy.
According to The British Retail Consortium UK retail sales values were down 0.3% on a like-for-like basis from February 2011, when sales had fallen 0.4%.
Total sales, including store openings, were up 2.3% but with inflation at 3.6% in January this still shows customers are buying less than a year ago.
Stephen Robertson, Director General, British Retail Consortium, said: "The reality of weak sales shows that a convincing revival remains illusory.
"Falling inflation has eased the squeeze on household finances and halted the slide in consumer confidence but that's at risk from fuel price rises and Budget uncertainty. Unemployment is expected to rise further causing increased nervousness about job security, which is keeping confidence fragile. Any sense of improving optimism is not yet translating into more spending.
"Total sales growth is still below inflation, so overall customers are actually buying less than a year ago, while discounts are eating into margins. Food picked up but non-food sales deteriorated with goods affected by the slow housing market among those particularly struggling.
"In this climate of continued caution, the Chancellor must use the Budget to hold back business costs, which will support jobs, growth and the much-needed consumer turnaround."
(LB/GK)
According to The British Retail Consortium UK retail sales values were down 0.3% on a like-for-like basis from February 2011, when sales had fallen 0.4%.
Total sales, including store openings, were up 2.3% but with inflation at 3.6% in January this still shows customers are buying less than a year ago.
Stephen Robertson, Director General, British Retail Consortium, said: "The reality of weak sales shows that a convincing revival remains illusory.
"Falling inflation has eased the squeeze on household finances and halted the slide in consumer confidence but that's at risk from fuel price rises and Budget uncertainty. Unemployment is expected to rise further causing increased nervousness about job security, which is keeping confidence fragile. Any sense of improving optimism is not yet translating into more spending.
"Total sales growth is still below inflation, so overall customers are actually buying less than a year ago, while discounts are eating into margins. Food picked up but non-food sales deteriorated with goods affected by the slow housing market among those particularly struggling.
"In this climate of continued caution, the Chancellor must use the Budget to hold back business costs, which will support jobs, growth and the much-needed consumer turnaround."
(LB/GK)
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19 September 2013
NSO Reports Surprise Fall In Retail Sales
The Office for National Statistics have reported a 0.9% fall in retail sales volumes in August, as opposed to 0.4% rise that analysts had predicted. Despite the fall sales volumes were still 2.1% higher than in the same period in 2012, when the Olympics affected spending.
NSO Reports Surprise Fall In Retail Sales
The Office for National Statistics have reported a 0.9% fall in retail sales volumes in August, as opposed to 0.4% rise that analysts had predicted. Despite the fall sales volumes were still 2.1% higher than in the same period in 2012, when the Olympics affected spending.
01 November 2011
Retailers Call For 'Boldness And Urgency'
The UKs retailers have called for the Governemnt to act with "boldness and urgency" to restore customers' confidence to spend and rebuild retailers' appetite to invest and resume job creation. In a letter to George Osborne on Monday, the British Retail Consortium (BRC) set out retailers' key priorities for developing a positive agenda for growth.
Retailers Call For 'Boldness And Urgency'
The UKs retailers have called for the Governemnt to act with "boldness and urgency" to restore customers' confidence to spend and rebuild retailers' appetite to invest and resume job creation. In a letter to George Osborne on Monday, the British Retail Consortium (BRC) set out retailers' key priorities for developing a positive agenda for growth.
19 February 2004
Strong retail sales growth stokes interest rate hike
The strong surge in retail sales revealed in the latest figures from the Office of National Statistics (ONS) has fuelled speculation that another interest rate rise is imminent. According to the ONS figures retail sales in the UK leapt 0.6% in January, raising sales to 6.4% above that of the previous year.
Strong retail sales growth stokes interest rate hike
The strong surge in retail sales revealed in the latest figures from the Office of National Statistics (ONS) has fuelled speculation that another interest rate rise is imminent. According to the ONS figures retail sales in the UK leapt 0.6% in January, raising sales to 6.4% above that of the previous year.
04 June 2003
Kingfisher sales up after Easter DIY boom
Kingfisher, the owners of BIY retail chain B&Q, has announced trading has been brisk for the first quarter to 3 May 2003, with retail sales up 9.2% to £2.6 billion, partly due to a flurry of spring DIY activity. B&Q's total sales grew by 12.8%, up 6.3% on a like-for-like basis, and this was reflected in the retail profit which was up 16.
Kingfisher sales up after Easter DIY boom
Kingfisher, the owners of BIY retail chain B&Q, has announced trading has been brisk for the first quarter to 3 May 2003, with retail sales up 9.2% to £2.6 billion, partly due to a flurry of spring DIY activity. B&Q's total sales grew by 12.8%, up 6.3% on a like-for-like basis, and this was reflected in the retail profit which was up 16.
16 June 2005
ONS reports retail sales ‘restrained’
The latest three-monthly growth in retail sales volume was the highest since November 2004, the Office of National Statistics has reported. However, the report warned that the underlying trend appeared “restrained” and annual growth in sales volume fell to the lowest level for six years.
ONS reports retail sales ‘restrained’
The latest three-monthly growth in retail sales volume was the highest since November 2004, the Office of National Statistics has reported. However, the report warned that the underlying trend appeared “restrained” and annual growth in sales volume fell to the lowest level for six years.
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