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Retail sales increase again

By rotide
Created 26/08/2010 - 11:38
High street sales increased for the second month in succession, according to the latest CBI quarterly Distributive Trades Survey.

The survey also revealed that retailers expect sales to continue growing in September and they are more optimistic about the general business situation in the coming three months.

Over half of the retailers surveyed said that the volume of sales rose during the first two weeks in August while 18% said that it fell, giving a balance of +35%. This was similar to the pace of sales growth in July (+33%), and the fastest since April 2007.

Looking to September, retailers expect sales growth to remain strong, with a balance of +39% expecting volumes to be higher than a year ago.

"Better sales growth continued on the high street in early August, and retailers are upbeat about prospects in the coming three months," said Lai Wah Co, CBI Head of Economic Analysis.

"The summer sales, some warmer weather and the school holidays will no doubt have helped, lifting sales of clothing and shoes and encouraging households to invest in some home improvements."


Source URL:
https://www.newbusiness.co.uk/news/retail-sales-increase-again