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Retail Sales not looking good
25 September 2008
The retail sector is not fairing well at the moment. Sales have dropped for the sixth consecutive month with 20% of outlets reporting weaker sales than a year ago.
Sectors linked to the falling housing market are suffering the most with 62% of furniture retailers reporting a drop in sales and 84% of household good suppliers reporting a drop. 27% of Clothing retailers have reported a drop in sales and 79% and footwear retailers have reported a drop.
John Cridland of the employers' organisation of Business Industry said 'Sadly, there has been no Indian summer after the sales washout of August, and the retail outlook for early autumn remains bleak'.
