On September 22, 2009
Kerching! Let’s Hear It For Our Retailers
Britain may no longer be a nation of shopkeepers, but we are still a nation with some bloody good retailers. The recession has driven down consumer confidence and spending, and the economy has shrunk by over 5%. The retail sector is at the front end of this downturn. Yet many of our top retail businesses have continued to thrive. The discount sector has obviously benefitted from consumers’ heightened desire for value, but many of our mass retailers have also seen sales as well as profit growth. All the main grocers — Tesco, Asda, Sainsbury’s and Morrisons — continue to prosper and the high street stalwarts, Boots and WH Smith, have both delivered profit growth. Retailers of bigger ticket items,…
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