Thursday, October 2nd, 2008
The National Minimum Wage increase of 21 pence per hour has disappointed retailers who had hoped for an increase in line with inflation, according to the British Retail Consortium. NMW rose from £5.52 in March to £5.73, but the BRC says it had called for this year’s rise to be no more than the rate of inflation.
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Tuesday, September 30th, 2008
The RTT agrees that the City focuses very heavily on like-for-like sales growth figures as a barometer of the success of retailers.
Tim Denison of SPSL summed this up when he said: “The City should be encouraging retailers to increase margins, not sales at any cost. Retailing is a business like every other. Unfortunately it’s far too easy to be fixated on sales figures.”
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Tuesday, September 30th, 2008
2007 was a tougher year for retailers than many before it, especially for the non-food sector. Right from the off, we feared that the outlook for the year looked poor.
A heavy cost base continued, with swinging increases in both utility prices and business rates particularly in quarter 1. Thankfully though, the rate of growth was slowing, after the onslaught of double-digit price inflation in fuel costs of 2006.
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