Retailers see improved year on year sales for third consecutive month

Retailers are reporting improved year on year sales for the third consecutive month and an increase in staff on the shop floor, the Confederation of Business Industry (CBI) says.

The CBI’s latest quarterly Distributive Trades Survey covers the first two weeks in November and revealed that year-on-year growth in retail sales volumes continued for a third consecutive month, with +49 per cent of retailers reporting an increase in their  volume of sales compared to a year ago, and +16 per cent a reduction.

The resulting balance of +33 per cent is the highest since June this year (+42 per cent) and slightly ahead of expectations (+27 per cent).

However, retailers considered the volume of sales to be below normal for the time of year (-15 per cent) and to a greater degree than expected (-4 per cent).

Year-on-year sales volumes growth was positive in nine of the thirteen individual retail sectors.

Looking ahead to December, volumes growth on the year is expected to decelerate slightly (+25 per cent), although sales are expected to move back into line with the seasonal norm (-1 per cent). 

Orders placed with suppliers are expected to increase on the year (+11 per cent). Inflation is expected to continue at a similar pace (+24 per cent) and employment is expected to continue growing (+9 per cent).

Retailers remained relatively cautious about the overall outlook, despite the strength in sales volumes. 

CBI head of economic analysis Anna Leach said: "This months’ survey is reason to be cheerful as we head into the festive period. Retailers across the board will be heartened by these encouraging results. The increase in employment, along with expectations for improvement in the business situation over the next quarter, point to a welcome boost to the sector.

But the fact that retailers are still reluctant to authorise new capital expenditure shows that there is some way to go before activity on the high street is back to normal."

Wholesalers meanwhile reported a six-month high in year-on-year sales volumes growth (+29 per cent), exceeding expectations for a modest decline in sales (-6 per cent).


Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Sign up now
Already registered?
Sign in

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Read These Next

Are garden centres taking business from department stores?

Are garden centres taking business from department stores?

Can other garden centres learn from Petersham Nurseries and the fusion of retail elements in its new Covent Garden outlet?

Consolidation reaching ever further across horticulture

Consolidation reaching ever further across horticulture

Consolidation is stretching across the nursery and retail horticulture sectors, with Dutch corporate finance company Oaklins saying the horticulture market is now going through another wave of consolidation.

Electric car charging: an opportunity for garden centres?

Electric car charging: an opportunity for garden centres?

There are 11,700 electric car-charging points across the UK but only eight at garden centres, so more can be done to take the opportunity in garden retail.


Follow us on:
  • Facebook
  • LinkedIn
  • Twitter
  • Google +
Horticulture Jobs

Horticulture Week Top 100 GARDEN CENTRES

Our exclusive ranking of garden centre performance by annual turnover. 

Garden Centre Prices

Peter Seabrook

Inspiration and insight from travels around the horticultural world
 

Read more Peter Seabrook articles

Neville Stein

Business advice from Neville Stein, MD of business consultancy Ovation
 

Read latest articles