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: Teijin

Textiles | On 5th Dec 2016

Teijin merges two businesses into one division

Japanese manufacturer of speciality fibres Teijin Limited is merging...

Courtesy: Myntra

Apparel/Garments | On 3rd Dec 2016

Myntra to be EBITA positive by FY18: CEO Narayanan

Myntra is on track to achieve sustainable growth and be EBITA...

Courtesy: India ITME Society

Textiles | On 3rd Dec 2016

India ITME 2016 opens with over 1050 exhibitors

The India International Textile Machinery Exhibition (India ITME)...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Giorgio Mantovani
Corman S.p.A

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Silvia Venturini Fendi
Fendi s.r.l

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search