12 April 2011 - 8:08am | posted by | 0 comments

Retailers record largest monthly sales slump since 1995

Retailers record largest monthly sales slump since 1995Retailers record largest monthly sales slump since 1995

Britain’s despondent retail sector has taken a further hit today after the British Retail Consortium reported that High Street spending took its biggest knock since 1995 in March.

It found that like for like sales were off 3.5% over the month, dragged down by declines in every category of sales bar footwear.

The grim tidings are being blamed on a plethora of downward pressing indicators, notably this year’s later Easter, “uncomfortably high” inflation and low wage growth.

Stephen Roberstson, the BRC’s director general, wasn’t optimistic that things would pick up quickly either, saying: “Mounting fuel and utility costs, falling house prices, higher VAT and the prospect of more tax rises and job losses left people unwilling to spend unless they really had to.

“These pressures aren't going away and the arrival of higher National Insurance is likely to compound them in the immediate future.”
 

Be the first to comment on this article: sign in or register.

Latest Projects from the Profile Hub

New Forest National Park - Young David Attenborough discovers the Tech Creche

21/08/2014
Research conducted by the New Forest National Park...

Case Study | Building Blocks

20/08/2014
Building Blocks's Operations Director and Co-Founder, tell...

Social Media Training

18/08/2014
We love to share what we know and what we've learned about...