UK recession ups and downs
In the doom and gloom of the current UK recession, new figures released by the British Retail Consortium (BRC) has offered some encouraging news for the retail sector. The BRC has has said that sales of retail goods rose in January after shops cut prices to encourage consumers to keep spending following a dismal pre-christmas season.
Figures show that there was a 1.1% increase compared to reatil sales last year. This has been the biggest increase since May 2008. However the BRC warned that the economic conditions still remained weak and the January Discount Shopping sales rise may only be a blip in these unstable times.
This is enforced by the news that the sports retailer JJB has applied to place two of its subsidiary companies into adminstration. The footwear stores Original Shoe Company and Qube have been suffering from poor sales and trading at a loss. However the companys will continue to trade as normal and JJB have said they had received several indications of interest for its fitness division.
