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Booksellers outperform wider market

27.02.08 Graeme Neill

High street booksellers are outperforming the wider retail market, as the Confederation of British Industry reports a drop off in sales growth. In the results of its Distributive Sales Survey for February, 36% of retailers said that sales volumes were down for 29th January to 13th February, while a fewer 34% said that volumes were up, indicating a gradual slowdown according to the CBI.

This is in contrast to figures from Nielsen Bookscan for a comparable period. For the period of 3rd February to 16th February, the General Retail Market, which is the best indicator for high street performance, sales grew by 5.6%.

However, despite a flattening in general retail sales, the prices of goods across the market in the 12 months to February increased at their fastest rate in over a decade. The CBI blamed rising food, energy and raw material costs for the rises.

Ian McCafferty, CBI chief economic adviser, said: "The high street has been slowing gradually since last April and sales earlier this month were very subdued, while prices have risen strongly. Reflecting the increasingly tough conditions faced by the sector, business sentiment and investment plans have both taken a hit."

Retail Graeme Neill

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