High Streets Initiative · 28 March 2018

Snowstorms send chill down UK high street with sharp sales drop

beast from the east
The lengthy cold snap heaped pressure on high street retailers
The Beast from the East? snowstorms have sent a chill down the high street, with sales dropping for the first time in six months.

According to the Confederation of British Industry’s (CBI) latest monthly Distribution Trades Survey, 32 per cent of retailers said that sales volumes were up in the year to March, whilst 40 per cent said they were down giving a balance of -8 per cent.

This is down from the +8 per cent reading in February and the first negative mark since last October.

Only 8 per cent of retailers said their volumes of sales was good for the time of year, with 35 per cent saying they were poor, giving a balance of -27 per cent. That is the lowest survey balance since April 2013.

The fall in retail sales was experienced across all sectors with non-specialised stores such as department stores, furniture and carpets, clothing, and other normal goods being the worst performers.

Sales volumes increased amongst grocers, footwear and leather retailers and hardware and DIY.


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