Menu
03/02/2004
Retail growth strong after January sales: CBI
Retailers reported strong growth in sales volumes in January, according to the CBI's monthly Distributive Trades Survey released today.
Volume growth exceeded expectations and sales were well above average for the time of year, the CBI said.
More than half (53%) of respondents said sales were up on a year ago while 15% said they were down. The balance of plus 38 is the highest since April 2002.
The underlying trend edged upwards and is now at its strongest level since June 2002. Strong sales growth is expected to continue into February, although at a slightly slower rate than reported in January.
A spokesperson said: "Anecdotal evidence suggests that this strong volume growth followed a high degree of discounting in the high street throughout January. Year-on-year growth is also likely to have been exaggerated by the comparison with January 2003 when sales were disappointing."
The survey indicated that most retail sectors saw strong growth in January, with the exception of clothing retailers who reported a second successive month of falling sales. Booksellers and stationers reported the strongest performance since March 1998, and sales of furniture and carpets grew at the fastest rate for more than three-and-a-half years. Grocers and stores selling durable household goods, which include TVs, DVD players, fridges and washing machines, reported another month of robust growth.
Motor traders reported a sharp drop in sales, although the decline was less severe than reported in December.
Ian McCafferty, CBI Chief Economic Adviser, said: "The survey shows that many retailers had a better January than they were expecting. However trading announcements over the last month suggest that performance has been particularly store or even goods-specific.
"Overall the retail sector looks to be healthy, but reports of price discounting suggest that competition remains intense and firms will be hoping that the Bank of England continues its gradualist approach to raising interest rates when it meets tomorrow."
(gmcg)
Volume growth exceeded expectations and sales were well above average for the time of year, the CBI said.
More than half (53%) of respondents said sales were up on a year ago while 15% said they were down. The balance of plus 38 is the highest since April 2002.
The underlying trend edged upwards and is now at its strongest level since June 2002. Strong sales growth is expected to continue into February, although at a slightly slower rate than reported in January.
A spokesperson said: "Anecdotal evidence suggests that this strong volume growth followed a high degree of discounting in the high street throughout January. Year-on-year growth is also likely to have been exaggerated by the comparison with January 2003 when sales were disappointing."
The survey indicated that most retail sectors saw strong growth in January, with the exception of clothing retailers who reported a second successive month of falling sales. Booksellers and stationers reported the strongest performance since March 1998, and sales of furniture and carpets grew at the fastest rate for more than three-and-a-half years. Grocers and stores selling durable household goods, which include TVs, DVD players, fridges and washing machines, reported another month of robust growth.
Motor traders reported a sharp drop in sales, although the decline was less severe than reported in December.
Ian McCafferty, CBI Chief Economic Adviser, said: "The survey shows that many retailers had a better January than they were expecting. However trading announcements over the last month suggest that performance has been particularly store or even goods-specific.
"Overall the retail sector looks to be healthy, but reports of price discounting suggest that competition remains intense and firms will be hoping that the Bank of England continues its gradualist approach to raising interest rates when it meets tomorrow."
(gmcg)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
14 April 2011
Sub Contractors Urged To 'Think Big'
Belfast City Council has launched a new programme targeting building sub-contractors who have shied away from pursuing opportunities with major contractors on large-scale construction schemes and other regeneration projects.
Sub Contractors Urged To 'Think Big'
Belfast City Council has launched a new programme targeting building sub-contractors who have shied away from pursuing opportunities with major contractors on large-scale construction schemes and other regeneration projects.
23 July 2014
AES Achieves Rapid Sales Growth
Cookstown electronics company Advanced Electronic Solutions (AES) Distribution NI Ltd has achieved rapid sales growth and export success with support from Invest Northern Ireland. The Cookstown firm designs and manufactures the largest range of wireless and GSM intercom systems in the world, based on its innovative wireless technology.
AES Achieves Rapid Sales Growth
Cookstown electronics company Advanced Electronic Solutions (AES) Distribution NI Ltd has achieved rapid sales growth and export success with support from Invest Northern Ireland. The Cookstown firm designs and manufactures the largest range of wireless and GSM intercom systems in the world, based on its innovative wireless technology.
12 January 2006
Sainsbury's reports strong Christmas trading
Supermarket group Sainsbury's has reported stronger sales over the Christmas period in its latest trading figures published today. The group, Britain's third largest supermarket chain, reported a 5.2% rise in like-for-like sales in the 12 weeks up to the end of December - the fourth quarter of consecutive like-for-like sales growth for the firm.
Sainsbury's reports strong Christmas trading
Supermarket group Sainsbury's has reported stronger sales over the Christmas period in its latest trading figures published today. The group, Britain's third largest supermarket chain, reported a 5.2% rise in like-for-like sales in the 12 weeks up to the end of December - the fourth quarter of consecutive like-for-like sales growth for the firm.
05 May 2005
ICI warns of slowing sales and rising costs
Chemical firm ICI has warned of slowing sales growth and said that further price increases will be “necessary” in order to offset rising costs in raw materials.
ICI warns of slowing sales and rising costs
Chemical firm ICI has warned of slowing sales growth and said that further price increases will be “necessary” in order to offset rising costs in raw materials.
15 January 2002
Tesco fail to match Sainsbury over Christmas period
Figures from Tesco have revealed that its Christmas sales growth failed to match that of archrival J. Sainsbury. Excluding takings from petrol stations, Tesco reported a 6.2 per cent rise in UK Christmas sales for the seven weeks ending on January 5 - compared to that of Sainsbury’s who had a rise of 6.8 per cent.
Tesco fail to match Sainsbury over Christmas period
Figures from Tesco have revealed that its Christmas sales growth failed to match that of archrival J. Sainsbury. Excluding takings from petrol stations, Tesco reported a 6.2 per cent rise in UK Christmas sales for the seven weeks ending on January 5 - compared to that of Sainsbury’s who had a rise of 6.8 per cent.
-
Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
