Record sales in the capital
Dec 14 2009
“Retail sales up in the capital”
Retail sales in the capital for November were the best in three years, according to the British Retail Consortium (BRC) and accountancy firm KPMG.
Sales on a like-for-like basis were up 13.3 per cent in November compared to the same time last year.
The growth was due to unseasonably mild weather, several special sales events and widespread discounts, and the weak pound attracting foreign visitors, claims the BRC.
Helen Dickinson, head of retail at KPMG, says: ‘Although the rest of the country has shown a relatively slow build up to early Christmas trade in November, London has bucked this trend. The weakness of the pound has certainly continued to attract overseas visitors who were out in the capital's department stores in force.’
According to accountancy firm BDO, sales across the country expanded by 3.9 per cent in November compared to the same month last year.