4R Blog

RSS Feed

Retail figures show 'bleak' picture for sector

Date Added: 15/06/2012  

Business debt advice may be needed by retail firms up and down the country after the latest figures for the industry revealed sales are still low.

According to the latest Scottish Retail Consortium (SRC)-KPMG Scottish Retail Sales Monitor, total sales in May were shown to be 0.1 per cent higher than in the comparable period a year ago, although like for like sales had dropped by more than one per cent on last year.

Warm weather towards the end of the month was said to have had a positive impact on the popularity of summer foods, while clothing and footwear sales were also up.

SRC director Ian Shearer noted the underlying picture for the sector remains "weak", with many firms perhaps close to being served with a winding up order.

"A welcome spell of warmth at the end of May helped lift these figures but the burst of summer didn't bring a boost on the scale enjoyed elsewhere," he said.

Mr Shearer added consumers are still proceeding with caution with regard to their financial position, which is making it hard for retail companies to succeed in the current climate.

He highlighted the fact the retail sales figures were "poor" for May last year and the 2012 data does not compare favourably with those statistics.

Head of retail for KPMG in Scotland David McCorquodale stated April had been a "dismal" month for retailers north of the border and there were some improvements in the sector to note last month, adding the "muted" celebrations of the Queen's Diamond Jubilee this month are not likely to provide a boost to the June sales figures when they are released.

Some 150 jobs across the country may be lost following the news camera retailer Cecil Jacobs has been forced to enter administration due to debts, it was recently revealed.

Need advice on Winding up Orders? Call 0800 9020123

Posted by Julie Cutts

Get the Help You Deserve

0800 90 20 123

Urgent Help Call 24/7

020 7183 2606

We'll Call You

Request a Callback