Retailers boosted following higher than expected sales
Thursday 24 January 2013
The high street earned some respite from a nightmare start to the year, as the CBI reported far stronger than expected sales during the first half of January.
Fears for the retail sector have been mounting in the wake of the collapse of a succession of big names such as HMV, Blockbusters and Jessops while official figures – showing a surprise, 0.3 per cent slide in sales during the crucial, pre-Christmas period – increased the misery.
But the CBI's distributive trades survey for the first fortnight of the new year showed 41 per cent of retailers enjoying higher sales volumes against 24 per cent seeing a fall. The resulting 17 per cent balance was much better than the 10 per cent pencilled in by the City, although prospects for the second half of January look far less certain after heavy snowfall across much of the country.
The CBI said grocers saw a ninth-successive month of year-on-year sales growth, making up for falling volumes and weaker growth elsewhere. Clothing retailers had their worst month since August while sales of big-ticket household goods also continued to fall.
Judith McKenna, chair of the CBI's distributive trades panel and Asda's chief operating officer, said: "Despite mixed news from the high street over the last few weeks, strong sales growth in the grocery sector has added a touch of sparkle to overall retail sales."
- 1 Tunisia hotel attack: Locals form 'human shield' to protect hotel from gunman Seifeddine Rezgui
- 2 David Cameron refers to 83-year-old Labour MP Dennis Skinner as 'Jurassic Park'
- 3 Alton Towers Air breaks down: 80 people stuck on broken down Monorail during heatwave
- 4 German ethics council calls for incest between siblings to be legalised by Government
- 5 Alwaleed bin Talal: Saudi Prince to donate entire $32bn fortune to charity
Tunisia hotel attack: Locals form 'human shield' to protect hotel from gunman Seifeddine Rezgui
The map showing the most dangerous tourist destinations in Europe, according to the Foreign Office
German ethics council calls for incest between siblings to be legalised by Government
Alwaleed bin Talal: Saudi Prince to donate entire $32bn fortune to charity
Forget little green men – aliens will look like humans, says Cambridge University evolution expert
The moment a Queen's Guard soldier lost it and drew his gun at annoying tourist
Greece crisis: IMF was pushed around by Angela Merkel and Nicholas Sarkozy – and now it is being humiliated
Greece crisis: The wider lesson is that it’s time to abandon this failed experiment in currencies
'I wish the BBC would stop calling it Islamic State' – David Cameron unleashes frustration at broadcaster
Girl, 7, stares down hate preacher at Ohio festival with pro-LGBT rainbow flag gesture
They are neither a 'state' nor 'Islamic': Why we shouldn't call them Isis, Isil or IS
iJobs Money & Business
£15000 - £17000 per annum: Recruitment Genius: This company offers a range of ...
£15000 - £16000 per annum: Recruitment Genius: Customer Service Advisors are r...
£20000 - £25000 per annum + OTE £45K: SThree: SThree were established in 1986....
£40000 - £60000 per annum: Recruitment Genius: A Compliance Manager is require...