UK Clothing Sales Decline in September 2008

Monday 27th of October 2008 03:27:28 PM

UK Clothing Sales Decline in September 2008

The economic picture for retail sales is not getting any better in the UK. Most people know this either intuitively as their money buys less and less, or they read the paper every day which is full of gloomy predictions. Clothing sales have been particularly hard hit with UK retailers reporting consistent sales declines.

For example, Marks & Spencer reports that like-for-like sales fell over 6% for the quarter ending September 27, 2008. Other retailers reporting sales declines include JJB Sports and the Arcadia Group. The Arcadia Group owns the Top Shop which was doing very well until recently. In fact the Arcadia Group had been in talks with the Iceland retailer Baugur to consider purchasing the UK clothing segment of the company. Those talks have now been postponed as economic conditions continue to worsen.

Gavin George is the head of the Ernst & Young retail section and he said, "As we enter our first recession for 16 years, it goes without saying that times will remain incredibly tough for retailers over the remainder of 2008, and probably all of 2009. Christmas will be painful for much of the sector as consumers continue to batten down the hatches."

The High Street sales were reported to have fallen by .4% in September 2008. This caused a downward adjustment in the annual growth figure to 1.8%. In August that same figure was 3.3% showing the significant and rapid decline in retail sales that is now occurring.

This data was reported by the Office of National Statistics. The British Retail Consortium also reported on sales figures. They Consortium reported a 1.5% September retail sales decline. The Consortium survey includes a much broader and larger number of clothing stores.

Any way you look at it the expectation is that clothing sales in all categories from fashion to sweatshirts will most likely continue to decline in the coming months. One of the best places to do your shopping right now is online where you can find a number of bargains for your everyday clothing such as white t-shirts, jeans, uniforms and hoodies.

(c)Image by Marcus Beltman, www.sxc.hu/