Hacked by Loard Mahdi

Read more...

Breaking news from the BBC Paper tax returns to be replaced by digital by 2020

Read more...

British territories sign deal on tax information

Read more...

The Retail Distribution Review (RDR) and VAT 04/11/11

Read more...

Updated UK and Liechtenstein Tax Deal 15/06/12

Read more...

Contact Us

News Items

Tax Tips

Brilliant with numbers
Great with people
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


Helping Your Business is Our Business


Call us now on 023 8083 6900 ABDS Home

News - 24 October 2014

UK retail sales fall in September

The Office for National Statistics’ (ONS) latest figures shows that sales volumes fell 0.3% on the month to 2.7%. It was more than many economists expected and the weakest performance since January.

However, it increased by 2.7% compared with September 2013 making this the 18th consecutive month of year-on-year growth. This is the longest period of sustained year-on-year growth since May 2008, when there were 31 periods of growth.

Tonmoy Kumar, Manager of the Accounts Department of ABDS comments:
“Textile, clothing and footwear sales showed the largest drop in figures, decreasing by 7.8% compared with August 2014, and by 4.1% compared with September 2013. Feedback from retailers suggested the fall was a result of unseasonably warm weather meaning consumers have delayed purchases of autumn and winter clothing.”

In September 2014, the amount spent in the retail industry decreased by 0.6% compared with August 2014.  However, it increased by 1.3% compared with September 2013. Non-seasonally adjusted data show that the average weekly spend in the retail industry in September 2014 was £6.9 billion compared with £6.8 billion in September 2013 and £6.9 billion in August 2014.

Average store prices (including petrol stations) fell by 1.4% in September 2014 compared with September 2013.  This was the largest fall since July 2009. The largest contribution to this fall came from petrol stations, down by 5.4%. Prices at food stores fell by 0.3%, the largest fall since December 2004 when it also fell by 0.3%.

The proportion of online sales was also unchanged in September 2014 compared with August 2014 at 11.4%. Online sales increased by 10.1% compared with September 2013.

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   
Great with people  
Clear and precise with advice
Timely and cost effective 
In touch with issues that face our clients and
mindful of their long term strategic goals

Helping Your Business is Our Business

« Back to News