We did not expect any change in interest rates today from the Bank of England, although clearly a further reduction in the run-up to Christmas would have been helpful to both retailers and industry in general.
More Quotes from Kevin Hawkins:
A very useful increase in customer footfall in Central London has helped to generate this exceptional rate of growth. This in turn reflects the ongoing recovery from the events of last July which retailers will be doing their best to sustain.Kevin Hawkins
I was in same situation last April at Clarks Hill. I was winning by 10 pounds on Saturday and had already won a boat. Then, instead of doing what the odds said to do, I went back and tried to catch another big fish and bombed out and lost the tournament. We tried very hard not to make the same mistake at Lake Murray.
Kevin Hawkins
The question now is whether some consumers will continue to stay away from central London and whether tourists will be deterred by the threat of further disruption,
Kevin Hawkins
As China remains the greatest hope for bringing unbeatable value to our high streets, we trust the EU will keep its word on defending the rights of consumers and not just a handful of uncompetitive European producers.
Kevin Hawkins
While most larger retailers have a broad spectrum of suppliers and are not unduly exposed to China, other retailers will be forced to look at sourcing from other low cost countries,
Kevin Hawkins
No one should be fooled into believing that the slight improvement relative to July indicates a change in trend. Any growth came from heavy discounting, which is not sustainable - especially as retailers' margins are already being squeezed by rising labour, property and energy costs. The underlying position is still weak and unlikely to improve unless and until there are further cuts in interest rates.
Kevin Hawkins
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