Footwear and leather the lone bright spot
30/01/2009
The Financial Times has described footwear and leathergoods as "the lone bright spot" in an otherwise bleak panorama for the UK retail sector.
The comments came after employers' federation the Confederation of British Industry (CBI) issued the latest in the regular surveys it carries out on the UK retail industry.
Only 16% of the retail groups that took part in the most recent survey reported that sales in January were higher than those of a year ago, while 63% said they were lower.
Andy Clarke, chairman of the CBI panel that oversees the survey, and retail director at supermarket chain Asda Wal-Mart, said: “As petrol costs and food inflation have come down and household energy bills are beginning to ease, consumers will have a bit more spending power, but as job losses increase, retailers will face a difficult year.”
Of all retail sectors, the Financial Times said the "lone bright spot" appeared to be footwear and leather, in which 62% of companies surveyed reported rising sales.
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