Home / Knowledge / News / A far from Merry Christmas in High Street
A far from Merry Christmas in High Street
08
Jan '08
UK retail sales rose only 0.3% on a like-for-like basis, compared with December 2006, when sales were up 2.5%. December's growth was the weakest since the decline in March 2006 when sales were hit by Easter falling in April in 2006. It was the worst December figure since 2004.

The three-month trend rate of growth fell to 0.8% from 1.8% in November for like-for-like sales, and to 2.8% from 3.8% for total sales, reflecting the continuing growth of retail space.

Kevin Hawkins, Director General, British Retail Consortium:
“This result is somewhat worse than we expected and points to a very challenging first half for 2008.

Given that the full effects of the Bank's previous increases in interest rates have yet to be felt by many households, retailers and manufacturers alike need a rate cut now – preferably a full half-point.”

Helen Dickinson, Head of Retail, KPMG:
"Sales did grow in December but, as the worst performance since March 2006, growth can only be described as weak. In the lead-up to Christmas there were huge daily swings as shoppers replaced even spending patterns with a smaller number of bargain-hunting 'big swoops'.

Sector performance also varied. Clothing and footwear sales actually fell in December for a third consecutive month, while food and drink, and toiletries and cosmetics grew.

"This sets the scene for the new year ahead and like-for-like sales look set to move into negative territory as theydid in 2005. This does not bode well for retailers struggling with rises in their cost bases of around four per cent."

Clothing:
Sales were below their year-earlier level for the third consecutive month. Although the decline was slightly smaller than in November and October, much of the improvement was driven by aggressive discounting, special sales days and an earlier start to some clearance sales.

As in November, womenswear suffered more than men's and childrenswear. Designer ranges continued to outperform and value lines often held up better than mid-market.

Outerwear, knitwear and nightwear did better on colder days but sales were often dependent on heavy markdowns. Cashmere, partywear and fashion accessories achieved some growth around Christmas.


Must ReadView All

Courtesy: ITMA 2015

Textiles | On 21st Jun 2018

Italy to host textile machinery fair ITMA in 2023

ITMA, the trendsetting textile and garment technology platform, will...

Courtesy: Connor Group

Textiles | On 21st Jun 2018

Protectionism top threat to textile sourcing: William Connor

Protectionism is the biggest political factor and threat affecting...

NRF urges US Congress to step in, stop trade war

Apparel/Garments | On 21st Jun 2018

NRF urges US Congress to step in, stop trade war

The National Retail Federation (NRF) recently urged the US Congress...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search