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Record low for UK retailers

By rotide
Created 29/08/2008 - 09:42

UK retailers endured their worst month in 25 years over the summer, according to research by the CBI.

The group - whose findings contradict a more upbeat assessment by the Office for National Statistics - claims 46% of retailers saw a fall in sales in the first half of August compared with a year earlier.

This was the second consecutive month in which the survey had hit a record low, the CBI said.

"This has been a summer that many retailers would rather forget," said Andy Clarke, chairman of the CBI distributive trades panel and Asda director.

"The downturn in the housing market is continuing to depress sales for those shops selling big-ticket items."

Only supermarkets reported a rise in sales as higher utility and fuel costs and bad weather affected consumer demand.


Source URL:
https://www.newbusiness.co.uk/news/record-low-uk-retailers