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Deloitte comments on latest ONS retail sales data

21 February 2014

Commenting on today’s ONS retail sales figures, Ian Geddes, UK head of retail at Deloitte, said:

“Today’s results reflect an increase in consumer confidence. Key indicators, including rising employment figures and a buoyant housing market, have bolstered consumer sentiment and subsequently boosted sales. While real wage growth remains below inflation, the outlook is set to improve in 2014.

“Interestingly, we saw less heavy discounting of surplus stock in January, as most retailers got their Christmas order volumes about right. Despite this, January’s figures are still strong, even without the added boost from these extra discount sales.

“In stark contrast to the flurry of January administrations seen in recent years, we saw no major retailers go under last month. This is a clear sign of the sector's improving health. Despite the adverse weather that has affected the start of the year, retailers will be hoping that strong sales will continue into 2014.”

End

Notes to editors

About Deloitte
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.

Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.

The information contained in this press release is correct at the time of going to press.

Member of Deloitte Touche Tohmatsu Limited.

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