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Trade News Archive May 08 April 08 March 08 February 08 January 08
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19th May 2008
London business buck trend as sales increase
Businesses in London have bucked national trends and reported healthy sales in April.
The British Retail Consortium reported that firms in central London reported a 2.7 per cent increase in sales last month when compared to figures from April 2007.
It added that this was below the 4.5 per cent jump in April 2007, when Easter had boosted figures.
However, the report did note that the increase was a positive sign, given that the UK as a whole reported a 1.5 per cent drop in sales during the month.
"London retailers continued to weather the tough economic climate better than the rest of the UK as a whole, with upmarket fashion accessories, fragrances and skincare doing well," explained Stephen Robertson, director general of BRC.
"Despite colder and wetter weather, shopper numbers were up slightly. Retailers in the capital will work hard to continue delivering value, especially as household incomes get squeezed."
Helen Dickinson, head of retail at KPMG, added: "The ongoing challenges to the sector continue, with a tough economic backdrop highlighting the fragile level of consumer confidence."
The report also noted that "big-ticket items continued to struggle as consumers faced increasing demands on their household budgets".
(c) 2008 Adfero Ltd.
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