NOVEMBER TRADE NEWS Woolworths confirms administration Textile maker claims innocence in fake goods case VAT cut drives Irish shoppers north of the border Woolworths close to administration Chancellor cuts VAT to 15% Retail sector 'being driven by discounts' Lingerie business to focus on wholesale operations Christmas delivers online shopping BRC warns government of pressure on retailers Wholesaler helps small retailers fight Asda Fraudster made £12,000 from eBay scam Scottish consumers 'tightening their belts' Luxury fashion brand enjoys rise in wholesale activity Weak pound benefits Northern Irish retailers Internet helps small retailers to fight downturn London sales superiority over UK 'dwindling' Cambridge retailers fight proposed Tesco opening Wholesale slump for designer clothing company Small retailers 'under threat Post Office to keep card accounts Wind forces trade fair inland Young consumers 'susceptible' to brands Christmas cheer in store for small retailers Local shops play vital community role Retailers told to expect flat sales this Xmas Keep Trade Local campaign comes to London Park Cameras bags Retailer of the Year award Retail sales plummet to three-year low Christmas 'make or break' for small retailers UK traders invited to enter Retail Week Awards Mary Queen of Shops to help Birmingham retailers Scottish Asda store criticised by local resident Low interest rate good news for small firms Markets must support each other, says CGTA Banks urged to pursue small business funding BRC to launch new online retail sales indicator Small retailers voice optimism in Kendal Portsmouth hosts bash for local newsagents Argos under fire for 222% APR store card Emergency funding for ailing small firms Stolen goods warning for Worcestershire retailers Trade News Archive November 08 October 08 September 08 August 08 July 08 June 08 May 08 April 08 March 08 February 08 January 08 Subscribe to our newsletter   Go to The Wholesaler UK Directory  11th November 2008 Retail sales plummet to three-year low High street retail sales for October fell to their lowest level in three years, new data from the British Retail Consortium (BRC) shows. Releasing its latest sales monitor in conjunction with KPMG, the professional body found that like-for-like sales were down 2.2 per cent last month, totally reversing the one per cent year-on-year spike seen in October 2007. It reported that following the latest decline total sales are now lower than a year ago for the first time since April 2005, sinking by 0.1 per cent. Footwear, clothing & fashions wholesalers are among those worst hit, with sales in those sectors still disappointingly low and being mostly discount-driven. "These are seriously poor numbers, especially in the run-up to Christmas," affirmed BRC director general Stephen Robertson. "For the first time in three years total retail sales fell into negative territory - further evidence of how difficult trading conditions are for retailers." Helen Dickinson, head of retail at KPMG, added that even the Bank of England's recent 1.5 per cent interest rate cut is unlikely to lift the spending forecast for Christmas. (c) 2008 Adfero Ltd. Comment on this news story