Blog: Has UK retail turned a corner?
Leonie Barrie | 30 September 2009
Earlier this week the Confederation of British Industry (CBI) suggested the high street is beginning to stabilise after sales rose unexpectedly in September.
And today, retail bellwether Marks & Spencer noted said its UK like-for-like sales fell by just 0.5% in the second quarter, indicating its sales slowdown is steadying too.
Admittedly the figures benefit from being measured against a very volatile quarter last year, when retailers and consumers were absorbing the full ramifications of the banking crisis.
But Rose, who tends to be supremely cautious when making any forecasts, today noted: “Consumer confidence has reached the bottom. People feel better about life.”
Which doesn’t quite translate into optimism, but is probably as good as we’re going to get.
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