After the pre-Christmas upturn, we are now back to the reality of a tough, discount driven retail market.
We did not expect any change in interest rates today from the Bank of England, although clearly a further reduction in the run-up to Christmas would have been helpful to both retailers and industry in general.
This is an impressive like-for-like figure and encouraging news for retailers in the capital, especially considering the severe and very worrying drop in sales seen in July through to October last year.
As China remains the greatest hope for bringing unbeatable value to our high streets, we trust the EU will keep its word on defending the rights of consumers and not just a handful of uncompetitive European producers.
Another slight improvement in like-for like sales is very welcome, especially considering the downward trend in the first half of this year.
While most larger retailers have a broad spectrum of suppliers and are not unduly exposed to China, other retailers will be forced to look at sourcing from other low cost countries.
While the growth in November was against a weak comparison in November 2004, it is better than many had expected and the lift out of negative territory is encouraging in itself.
Copyright © 2024 Electric Goat Media. All Rights Reserved.