29-01-2008
Mixed feelings about January sales reports
News by Adfero for Simply Business - independent providers of business insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
The Confederation of British Industry (CBI) has highlighted the gloom faced by high street retailers in January.
According to the results of the organisation's distributive trades survey, high street activity was only marginally improved by January's sales period.
The survey found that the sales balance fell in January, to a low last seen in November 2006. However, a number of retailers expressed optimistic sentiments, believing that there will be improvements over the course of February. "Overall, retail sales were still better than expected this month and the high street does predict a slight improvement in February," said John Longworth, chairman of the survey panel at the CBI, a UK business-orientated lobbying organisation.
Specifically, although 34 per cent of the survey's respondents confirmed that sales volumes declined in January - when compared with the same point during the previous year - 39 per cent reported growth.