The Office for National Statistics (ONS) reported that retail sales in August rose by 3.3% compared with the same month a year earlier and by 0.3% on a month-to-month basis. This has surprised economists who had expected shoppers to rein in their spending. The unexpected results were driven by a rise of 4.5% in the
A survey by the Nottingham Building Society has revealed that 46% of shop owners blame the closure of local bank branches in the last three years for damaging their businesses, while 24% said it contributed to them going out of business within the last five years. Retailers are also being hit by lower footfall, with
Retail sales grew at their fastest pace since September 2017 in the year to June, according to the CBI’s latest Distributive Trades Survey. It also revealed that sales volumes were well above average for the time of year. Additionally, the survey reported a jump in growth in the volume of orders placed on suppliers. The
Retail news round-up: Sales; business and consumer confidence; surplus shops Read More »
I’m sure that most retailers will agree with Mike Cherry, Federation of Small Businesses national chairman, who has hit out at Barclays’ plans to close a further 54 branches this year. He said that at a time of unprecedented uncertainty “the last thing small businesses need is the loss of in-person bank branch support”. Mike
Editor’s news round-up Read More »
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