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    Retailers suffer as July’s weather takes its toll

    Category: Scottish Economy — Mark on August 10, 2012

    A recent report has shown that Scotland’s retail sector slumped through July, as the wet weather saw people stay indoors – even more than they already are through the economic strife.

    According to a high street sales tracker, July’s sales were down 2.9 per cent from their level at the same point in 2011 – the sharpest fall since October of last year. The news will worry many retailers facing uncertainty in the country.

    The results from the tracker did show that the end of the month picked up as the weather improved. However, many local shops are still deciding to lay people off to save costs where they can.

    There are those companies taking a different approach though.

    With the help of Scottish factoring companies, many businesses are finding it possible to retain staff, through a period when invoices are remaining unpaid for longer than usual.

    Breaking down the poor monthly results showed that it was in the fashion sector that pain was really felt. Here, sales fell by 2.6 per cent in the year, fuelled by seasonal clothes and accessories remaining on the shelves.

    There was a smaller fall in non-fashion items, but here still there was a 1.5 per cent fall.

    Many retailers will certainly be hoping for an Indian Summer this autumn, to get people out to the stores again. With the economic climate not expected to recover as quickly as the weather, there will still be challenging times ahead.

    '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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