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Reply #15: Retailers facing gloomy Christmas [View All]

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 07:07 AM
Response to Reply #9
15. Retailers facing gloomy Christmas
http://www.independent.co.uk/news/business/news/retaile...

The outlook for retailers in the run up to Christmas is looking increasingly gloomy as a key survey today revealed the sector cut jobs at the fastest rate in two years amid falling sales.

Employment in the retail sector, which makes up 11% of the UK economy, fell at the fastest rate since November 2009 as more businesses surveyed by the CBI said they had reduced staff levels than those who had bumped up numbers.

The job cuts came as high street sales volumes fell for the sixth month in a row at the fastest rate in 20 months, the CBI said, with the decline driven by grocers, department stores and clothing retailers.
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