UK Retail Sales Continue to Climb, Despite Rocky Month of January
For the retail industry, January is the biggest month for bankruptcy filings. Every year, there are many retail businesses that hope holiday sales will be able to pull them out of their cash-flow hole and boost sales and profits. Some are also burdened with a heavy load of debt. Sadly, many of these businesses do not have the liquidity to go forward without court protection and file for bankruptcy. This year, that is not the case for UK retailers.
According to reports, UK retailers successfully battled tough trading conditions in January. In a month that is typically very difficult for this industry, sales actually increased by 0.6{0f96de2a6874a2011bd32b36c18fd3db141d5c337ce905be2339bd1501acd9c1} on a like-for-like basis from January, compared to a decrease of 0.6{0f96de2a6874a2011bd32b36c18fd3db141d5c337ce905be2339bd1501acd9c1} for the same month in 2017. In addition, total sales rose 1.4 per cent last month, following a rise of just 0.1 per cent a year ago.
Helen Dickinson, BRC chief … Read more