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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Paul Kern who wrote (74819)12/5/2006 1:08:17 AM
From: CalculatedRisk  Read Replies (1) of 110194
 
England: Retailers face nervous Christmas as shoppers dip and sales struggle
By Philip Thornton, Economics Correspondent
Published: 05 December 2006
news.independent.co.uk

Shoppers deserted the high street last month while the volume of cash spent was virtually stagnant, according to two reports that will fuel fears among retailers of a feeble Christmas.

The number of visitors to the UK's main shopping zones fell by 7.3 per cent on November 2005's total, according to FootFall, the analyst that measures retail traffic. It said the number of shoppers rose just 4.7 per cent on the month into November, making this the worst build-up to the festive season since it started collecting data in 2002.

Meanwhile the closely watched survey by the British Retail Consortium (BRC) showed the value of retail sales was up just 0.5 per cent compared with last November. This was the weakest figure for like-for-like sales - measuring the same area of floor space - since March this year and a fraction of the 2.6 per cent growth seen in October.

FootFall said that it was a "real concern" that retailers had failed to ignite the usual seasonal interest from customers despite launching early price cuts.

Natasha Burton, a spokes-woman, said: "We are already hearing reports that this will be the worst Christmas for over 25 years and on the evidence of this index, it could be a bad end of year for retailers who have normally relied on buoyant trading in the festive period."

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