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News - 13 March 2014

February’s bad weather hits retail sales.

The latest figures from the British Retail Consortium (BRC) showed that like-for-like sales fell 1% compared to the same month last year. February's fall comes after a 3.9% like-for-like increase in January, and marks the first drop since April.

Online sales did better, with non-food sales figures growing 14.3% year-on-year.

Tonmoy Kumar, Manager of the Accounts Department of ABDS comments:
“Online sales represented 17.5% of total non-food sales, against 15.4% in February 2013, according to the figures, compiled by the BRC and KPMG. However, fiercely competitive campaigns by discount grocers saw a slowdown in food price inflation. But the recovery in the housing market had a positive effect on sales of furniture and home accessories.”

Helen Dickinson, director at the BRC, said: "Overall, these figures reflect the considerable challenges still faced by consumers and retailers in the UK. It remains to be seen how the industry will fare over 2014."

If you need any help and advice on SME or the retail industry strategy, contact Lavinia Newman or Peter Ham now to discuss how ABDS can help bring their experience to these matters.

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

Brilliant with numbers
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Clear and precise with advice
Timely and cost effective
In touch with issues that face our clients
Mindful of our client’s long term strategic goals

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