Retailers celebrate positive sales ahead of festive season
THE high street is looking forward to a buoyant Christmas, after reporting the fastest sales growth in two years yesterday. Confidence among retailers has turned positive for the first time since August 2007.
The CBI’s latest Distributive Trades Survey showed 40 per cent of retailers reported higher sales volumes in November compared with a year ago, while 27 per cent said they fell.
The resulting balance of 13 per cent marked the second consecutive month of growth. A net 19 per cent of retailers expect sales to improve in the run-up to Christmas.
“Christmas is in full swing on the high street, and retailers have their sights set firmly on bringing customers in-store to spend early with many opting to advance their seasonal sales or for flash discounting,” said Richard Lowe, Head of Retail and Wholesale at Barclays.
A net 13 per cent of firms felt optimistic about their prospects in the next three months – the strongest result since May 2004. The volume of orders placed on suppliers rose for the first time since January 2008, and prices continued to increase.
The CBI said grocers and shoe retailers saw positive growth this month.