Retailer’s Face Tough 2010

There’s an article on the BBC website today about the future of the retail sector this 2010. Retailers are facing a “very tough” 2010, despite posting upbeat Christmas sales figures, the head of the British Retail Consortium (BRC) has warned.

BRC director general Stephen Robertson said consumer spending may not grow in the face of tax rises and continuing economic uncertainty. “There will be tough sales and perhaps no growth,” he said in an interview with the Sunday Telegraph.

Marks and Spencer has already warned that 2010 trading will be difficult.

Meanwhile, low-cost fashion retailer Peacocks said on Sunday that its like-for-like sales, which pulls out the impact of new store openings, rose 17% in December and early January.

Mr Robertson added that householders were also choosing to save more.

The RBC is expected to report on Tuesday that industry-wide sales in December were at least 4% higher than the same month in 2008.

It comes after retailers including John Lewis, Next and Sainsbury’s all reported strong Christmas trading. Upbeat festive figures are also expected this week from supermarkets Tesco and Co-operative.

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