07-07-2007
Retail shares continue downward trend
Shares in some of the UK’s leading retailers continued their downward trend during the last week as stock market fears mount over the impact of the recent bad weather and ever-increasing interest rates.
Share prices for retailers across the board have been falling over the past month, but it is fashion that seems to have suffered the greatest losses. The rain has seen customers avoiding the high street and the shops are full of clothing inappropriate for the weather. This is compounding the falling levels of spending forced by the five interest rate rises over the past year.
It is the largest retailers that have suffered most. Ted Baker stock is down 14% over the last 30 days, followed closely by Laura Ashley at 13% and Next at 12%. Even Marks and Spencer, who have had a resurgence in popularity, went down 10%.
Electrical and general retailers are also feeling the pinch.