Retail sector heading for a slump across Britain

After 1990, the next 12 months or a year is likely to be the slowest period for Britain's retailers.

London(Shakespearefinance) Aug 4, 2009:The upcoming 12 months or a year is likely to be the slowest period for Britain's retailers since the early 1990s. The Experian National Footfall Index measures the number of shoppers visiting the high streets and malls have fell down by 2.6 percent in contrast to the same month last year, 2007. In comparison to index in last June, fall was up 2.7 percent.

Experian Senior Economist Matthew Sherwood said,”Even with oil prices coming off a recent high, consumers will be squeezed by high petrol and food prices, rising home heating bills come winter and the continuation of the credit crunch until well into 2009.”

It has been predicted that the sales volume will contract in July-September 2009 and it is the first fall since early 2006. Furthermore, the next 12 months are shaping up to be the slowest period for Britain retailers after 1990s. According to the quarterly survey conducted, it has been shown that there was 29 profit warnings by general retailers in the first six months of 2009. Moreover, in the first half of 2009, it has been recorded that retailers have received highest number of warnings.