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| Version 1 | Version 2 |
|---|---|
| Retailers still cautious about Christmas sales | Retailers still cautious about Christmas sales |
| (about 3 hours later) | |
| The majority of UK retailers expect trading this Christmas to be no better than last year, according to a survey by the British Retail Consortium (BRC). | |
| The BRC found that 35% of firms believe trading will be better than 2009, with 29% saying it would be the same. | The BRC found that 35% of firms believe trading will be better than 2009, with 29% saying it would be the same. |
| The remaining 36% fear Christmas will be worse, with the recent snow and financial pressures on consumers cited as key reasons. | The remaining 36% fear Christmas will be worse, with the recent snow and financial pressures on consumers cited as key reasons. |
| The BRC surveyed 17 big retailers which make up 51% of the sector by turnover. | The BRC surveyed 17 big retailers which make up 51% of the sector by turnover. |
| The survey also found 71% of retailers think that the planned rise in VAT in January is encouraging consumers to bring forward purchases. | The survey also found 71% of retailers think that the planned rise in VAT in January is encouraging consumers to bring forward purchases. |
| BRC director general Stephen Robertson said: "It's reassuring to see a majority of retailers believe Christmas sales will be at least as good as last year... But considering inflation is now at 3.2%, growth of anything less than that would be a real-terms fall." | BRC director general Stephen Robertson said: "It's reassuring to see a majority of retailers believe Christmas sales will be at least as good as last year... But considering inflation is now at 3.2%, growth of anything less than that would be a real-terms fall." |
| Electricals retailer Kesa, computer games group Game, and music, DVD and games retailer HMV all reported disappointing updates. | Electricals retailer Kesa, computer games group Game, and music, DVD and games retailer HMV all reported disappointing updates. |
| 'Bad weather' | 'Bad weather' |
| But other retailers are faring better, with John Lewis reporting another week of record sales. | But other retailers are faring better, with John Lewis reporting another week of record sales. |
| The group said sales hit £121m in the week to Saturday 11 December, up 16.7% on the previous week when bad weather kept many shoppers at home. | The group said sales hit £121m in the week to Saturday 11 December, up 16.7% on the previous week when bad weather kept many shoppers at home. |
| Economist Howard Archer, of IHS Global Insight, said the John Lewis figures may help ease fears over Christmas trading. | Economist Howard Archer, of IHS Global Insight, said the John Lewis figures may help ease fears over Christmas trading. |
| "Retailers may still have a decent Christmas after all, despite the hit to activity from the bad weather," he said. | "Retailers may still have a decent Christmas after all, despite the hit to activity from the bad weather," he said. |
| "One proviso is that, in recent times, John Lewis have been comfortably outperforming the retail sector as a whole. | "One proviso is that, in recent times, John Lewis have been comfortably outperforming the retail sector as a whole. |
| "Another major concern for retailers is that more cold weather is forecast this coming week. With Christmas falling on a Saturday, next weekend's trading is going to be of major importance to retailers." | "Another major concern for retailers is that more cold weather is forecast this coming week. With Christmas falling on a Saturday, next weekend's trading is going to be of major importance to retailers." |
| Also, Tesco, Britain's biggest retailer, has forecast that it expects to see its best ever Christmas. | Also, Tesco, Britain's biggest retailer, has forecast that it expects to see its best ever Christmas. |