ONS retail sales figures - Barclays Corporate comment
17 Feb 2012 09:44 GMT
Richard Lowe, Head of Retail & Wholesale at Barclays Corporate, comments on today's ONS retail sales figures:
“January’s figures were largely driven by post-Christmas sales and deep discounting as retailers tried to clear winter stock to make way for spring ranges.
“Last month also saw the one-year anniversary of the VAT rise which means we now get a truer picture of like-for-like trading”.
About Barclays
Barclays is a major global financial services provider engaged in personal banking, credit cards, corporate and investment banking, and wealth and investment management.
With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 140,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.
For further information about Barclays, please visit our website
www.barclays.com.
About Barclays Corporate
With a clear focus on quality relationships, Barclays Corporate provides integrated banking solutions to businesses with an annual turnover of more than £5 million in the UK and large local companies, financial institutions and multinationals in non-UK markets. We facilitate the success and growth of our clients by providing lending, risk management, cash and liquidity management, trade finance and asset and sales financing. Additionally, our clients benefit from the breadth of the Barclays Group, through access to the investment banking services of Barclays Capital including debt and equity capital markets, the private wealth management expertise of Barclays Wealth, and the card and payment services of Barclaycard. Barclays Corporate employs over 10,000 people globally. For more information please visit www.barclayscorporate.com.
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