Comment on the Confederation of British Industry (CBI) Distributive Trades Survey for October 2009
27 Oct 2009 12:37
Richard Lowe, Head of Retail and Wholesale, Barclays Commercial Bank said:
“The latest figures indicate a welcomed improvement on the high street and bring a level of respite to shops which have experienced unsteady sales figures over the past 12 months. Retailing is picking up in the short-term, as many Britains are taking advantage of the myriad discounts and sales promotions retailers are offering to entice spending.
“With the lead-up to Christmas around the corner, shops will be welcoming the improvement and will be hoping for this momentum to be sustained into the longer-term. Prudent business owners and managers will be looking to maintain well managed stock levels in the build-up to Christmas, without tying-up too much cash in goods and assuring a manageable cash-flow in and out of the business.
“However, not all businesses are reaping the benefits of this slight upswing and the long-term sustainability of these improvements remains uncertain. Business owners and managers should temper caution with innovation as we enter the 2010 planning stages, as the erratic shifts in sales volumes we have witnessed over the past 12 months may not have fully stabilised.”
ABOUT BARCLAYS PLC Barclays is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services with an extensive international presence in Europe, the Americas, Africa and Asia. Barclays Commercial Bank provides banking services to 81,200 organisations with an annual turnover of more than £1m. Customers are served via a network of relationship and industry sector specialists, which provides solutions constructed from a comprehensive suite of banking products, support, expertise and services, including specialist asset financing and leasing facilities. Customers are also offered access to the products and expertise of other businesses in the Barclays Group, particularly Barclays Capital, Barclaycard and Barclays Wealth.