The British Retail Consortium’s (BRC) most recent health check has shown that retail sales were down by 3.1% in April, leaving retailers across the country struggling.
Representing the largest drop since the BRC launched its survey back in 1995, the dip has been attributed to a number of causes, including poor weather, the timing of Easter and reduced household budgets. As Walsh Taylor discussed in an article towards the end of February, increased labour costs due to the rise in the minimum wage and the popularity of online shopping have not helped either.
Following on from the collapse of Toys R Us and Maplin, plus several other well-known organisations being in the process of closing stores, retailers are set to be bracing themselves for the tough conditions to continue. It was announced recently, for example, that Mothercare is about to close around 50 of its 137 shops by June of next year.
To add to that, as reported by BBC News, the latest FTSE All-Share Index did not bode well for many retailers. Marks & Spencer just avoided slipping out of the FTSE 100, whereas the fashion chain Moss Bros was relegated from the FTSE All-Share to the FTSE Fledgling Index after their market value shrank.
Having assisted hundreds of Yorkshire and North East businesses over the past decade or so, the Leeds, Harrogate, Bradford and Darlington-based teams at Walsh Taylor sympathise with those under financial pressure. That is why we work with clients to ensure that the best possible outcome is secured.
By getting in touch with us today for a free-of-charge initial meeting you could increase the likelihood of a positive result. After all, the sooner we speak with you, the sooner we can help your company.
For more information, please either call 03300 244 660 or email email@example.com.