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News - 14 December 2013
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Retail sales off to a poor start
Sales on the UK high street fell in the first week in December possibly indicating another year of cat-and-mouse between consumers and retailers.
Figures from BDO accountants show that non-food sales dropped by 4.1% in the first week led mainly by a steep drop in fashion buying as unseasonably mild weather tests the nerves of the big fashion chains. In 2012 December was the wettest in over 30 years and this year it has been unseasonably mild but is about to turn wet.
With eight days of trading to go many stores have already started to discount as they lose faith in the promise of a bumper Christmas on the back of an improving economic landscape. With improvements in the economy not yet feeding into higher wages and increases in disposable income many households appear to be either putting off Christmas shopping or scaling back altogether.
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