You are viewing your 1 free article this month. Login to read more articles.
Booksellers and stationers experienced a sharp year on year drop in sales in early March, according to figures from the Confederation of British Industry.
In its latest Distributive Trades survey, a balance of 25% of booksellers and stationers surveyed said sales were down year on year in the two weeks to 10th March. In the February period, this balance was 0%. However, in January 50% of those surveyed reported a fall in year on year sales.
The poor book figures contrast with the cautious optimism greeting the wider retail sales growth. High street sales have increased for the second month running, with 39% of retailers reporting higher sales volumes than the same period in 2009 and 26% said they were lower. The CBI said the balance of 13% was "broadly in line with expectations" but down on February, when a balance
of 23% reported strong sales growth.
Andy Clarke, chairman of the CBI Distributive Trades Panel, and chief operating officer of Asda, said: "Despite not matching the strength seen in February, it's encouraging that high street sales have continued to grow this month. The outlook for Easter may still be positive but, with a weak
economy and pay freezes for many, consumers are likely to remain cautious for some time."