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Scottish retail figures continue to fall but slow down

Category: Scotland Finance News — Paul Morgan on April 2, 2012

The latest figures for the retail sector in Scotland have shown another fall but at a lesser rate than widely expected.

The January Scottish Retail Consortium (SRC) sales figures showed that food was the strongest area, though this was largely as a result of the combined restocking by customers and severe instore discounts.

In total, sales fell by 0.6%.

Food sales for the period saw an increase of 3.4% from levels last year, though this was an actual fall in light of the lower inflation rate, according to the SRC. Non-food sales decreased by 4.4% over the same period.

Industry analysts are clear why the retail sector is continuing to find the going tough. It is simply down to the lack of recovery. David McCorquodale, KPMG’s head of retail in Scotland said:

“Until an upturn is truly felt through jobs, wages or net income, it seems that no level of promotion or discounting from the retailer can really lift the gloom.”

Many business are trying to grow, but still struggle with finance too. There are those able to source funding through the likes of factoring, but some are not able to do so.

It is something many business leaders could consider though, with Scottish factoring companies able to help in business support areas too. Indeed, seeking such support in the retail sector could also prove beneficial, with Mr McCorquodale going on to say:

“Many retailers feel they are fighting hard just to stand still at best and don’t see any light at the end of the tunnel.”

'Disclaimer: The information contained in these articles is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.

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