BRC warns on credit insurance July 30, 2009 The British Retail Consortium (BRC) will today warn of a lack of available trade credit insurance. According to the BRC’s Quarterly Credit Conditions, more than half of the firms it surveyed have been hit by the problem. Three quarters of those affected have suffered problems with suppliers who are unable to take out credit insurance [...]
Jobless rise hits retailers July 28, 2009 RETAIL sales fell faster than expected in July as consumers tightened their belts in the face of rising unemployment, the Confederation of British Industry (CBI) said yesterday. The CBI’s monthly distributive trades survey sales balance was -15 per cent this month, an improvement on -17 per cent in June, but worse than the -12 per [...]
Ministers split over timing of VAT increase July 26, 2009 A CABINET rift has opened up over whether VAT should rise to its previous rate at the end of the year. Retail and hospitality executives, who have campaigned for months against the change, were buoyed last week when Harriet Harman said the planned rise from 15 per cent to 17.5 per cent on January 1 [...]
Ministers split over timing of VAT increase July 26, 2009 A CABINET rift has opened up over whether VAT should rise to its previous rate at the end of the year. Retail and hospitality executives, who have campaigned for months against the change, were buoyed last week when Harriet Harman said the planned rise from 15 per cent to 17.5 per cent on January 1 [...]
Landlords oppose Allied rent cuts July 23, 2009 A group of the UK’s largest commercial landlords is objecting to dropping rental payments for the company that bought collapsed retail firm Allied Carpets out of administration. The consortium, led by heavyweight property company British Land, is believed to be rejecting calls to cut rents by half for a year as part of a raft [...]
Hot weather adds sizzle to retail sales July 23, 2009 UNUSUALLY hot weather and aggressive discounting by retailers fuelled a surge in retail sales last month, official data from the Office for National Statistics (ONS) showed yesterday. Figures from the ONS revealed that total retail sales rose by 1.2 per cent in June on the previous month, putting the annual rise on a seasonally-adjusted basis [...]
Hot weather adds sizzle to retail sales July 23, 2009 UNUSUALLY hot weather and aggressive discounting by retailers fuelled a surge in retail sales last month, official data from the Office for National Statistics (ONS) showed yesterday. Figures from the ONS revealed that total retail sales rose by 1.2 per cent in June on the previous month, putting the annual rise on a seasonally-adjusted basis [...]
Downturn hits downtown as shops lie empty July 20, 2009 ONE in eight shops are lying empty in the UK according to the British Retail Consortium (BRC), which today sets out its rescue strategy for the retail landscape. It says 12 per cent of town centre shops are now vacant, three times as many than last autumn, as retailers have been hit by the slump [...]
London retail sales outpace UK thanks to sunshine and tourists July 19, 2009 RETAIL sales surged in central London last month thanks to the mini heatwave which sent shoppers racing for summer clothes, sandals and outdoor items, according to the latest survey from the British Retail Consortium (BRC) and KPMG. Research found like-for-like sales in June were 4.7 per cent higher than the same month in 2008 when [...]
Shoplifting rises in recession July 16, 2009 More than 90 per cent of retailers say retail crime has increased over the last 12 months and more than four fifths believe the rise has been caused by the recession, according to figures released yesterday by the British Retail Consortium. The findings were at odds with figures from the British Crime Survey, also published [...]