A handful of stores are perfoming well but this belies the pitiful state of retail generally
According to the Government's Retail Sales Index activity in the sector was robust in February showing a 1.9% increase in sales over the previous three months and 6.5% higher than 2003 but this doesn't show the whole picture.
Non-food stores accounted for most of the increase with House of Fraser, French Connection and Ted Baker showing strong results but the growth in value of total sales over the year was 2.4% which represents the lowest year-on-year growth in sales value since 1943.
Consumer spending is expected to shrink over the next year to eighteen months and retailers must prepare for hard times. The Business Forum is hosting an event on 27th April to show independent retailers how they can maximise their profits using technology. See the advert at the top of the homepage for more details or contact Soozie Campbell on 01273 380040
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