Tuesday, February 07, 2012
Retailers gloomy
Posted by David Smith at 09:00 AM
Category: Thoughts and responses

The British Retail Consortium says retail sales values were up by 2.1% year-on-year in January, though sales were down by 0.3% on a like-for-like basis (adjusted for additional floor space and store openings). No doubt that these figures were weaker than December, when stores benefited from a late boost in spending and comparisons with the snow disruption of December 2010.

It should be remembered that January 2011 benefited from December 2010's disruption, despite the VAT increase that month. Even so, the BRC numbers suggest a weak start to the year, in contrast to figures from, say, John Lewis.

Interesting to note that retail floor space is still expanding, when many retailers have fallen by the wayside. Details here.