New data due to be published this week is expected to show there was continued weakness in the British retail sector over the all-important Christmas period.
According to the Telegraph, the latest set of figures from trade body the British Retail Consortium (BRC) will indicate that UK retailers failed to surpass their showing in December 2010, adding to concern about consumer confidence and the wider economy.
While BRC head of media and campaigns Richard Dodd said the report would most likely show a slight year-on-year improvement in “cash terms”, he warned that the modest increase “won’t have beaten the impact of inflation”. Consumer price inflation remained well above the Bank of England’s target rate throughout 2011.
However, a separate study compiled on behalf of the newspaper by footfall analyst Springboard suggested there had been a significant increase in the number of people descending on Britain’s high streets and shopping centres compared to 2010.
BRC director-general Stephen Robertson this week admitted to concerns about retailers’ prospects for 2012, noting that both lacklustre sales and “underlying profitability” are major worries for the industry.
