This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/8433633.stm
The article has changed 3 times. There is an RSS feed of changes available.
Version 0 | Version 1 |
---|---|
Post-Christmas sales wow shoppers | Post-Christmas sales wow shoppers |
(10 minutes later) | |
Shoppers have been flocking to the High Street over the Christmas weekend, with numbers far exceeding those from this time last year, figures have shown. | Shoppers have been flocking to the High Street over the Christmas weekend, with numbers far exceeding those from this time last year, figures have shown. |
The number of shoppers out on Sunday, 27 December was 17.9% up on the same Sunday last year, said Experian, a research house that measures footfall. | The number of shoppers out on Sunday, 27 December was 17.9% up on the same Sunday last year, said Experian, a research house that measures footfall. |
On Boxing Day, the number of shoppers was up 18.5% on the same day in 2008. | On Boxing Day, the number of shoppers was up 18.5% on the same day in 2008. |
Experian called the rise "exceptional", adding that shoppers may be racing to beat the VAT increase in January. | Experian called the rise "exceptional", adding that shoppers may be racing to beat the VAT increase in January. |
"The positive increase of 17.92% this Sunday compared to the same Sunday last year can be seen as exceptional, given that the pre-Christmas build-up performance was a lot slower paced," said Anita Sharma Manan, analyst at Experian. | "The positive increase of 17.92% this Sunday compared to the same Sunday last year can be seen as exceptional, given that the pre-Christmas build-up performance was a lot slower paced," said Anita Sharma Manan, analyst at Experian. |
"Worryingly, the recent surge of shoppers could be short-lived as we are now only days away from the imminent VAT increase on 1 January 2010 and sales which would have been made in 2010 are happening now, already bringing forward next year's sales." | "Worryingly, the recent surge of shoppers could be short-lived as we are now only days away from the imminent VAT increase on 1 January 2010 and sales which would have been made in 2010 are happening now, already bringing forward next year's sales." |
In the 2008 pre-Budget report, the government cut VAT from 17.5% to 15%, effective from 1 December 2008. | |
It will return to 17.5% in the new year. | |
Despite the signs of a strong Christmas trading period, shares in retailers fell slightly. | |
Next shed 0.3% and Home Retail Group, which owns Argos, fell 0.9%, while Marks and Spencer was also marginally lower. |