UK: Leather and footwear sales pick up
Leather and footwear outlets experienced the biggest increase in sales among UK retailers in February, according to a survey conducted by the Confederation of British Industry (CBI). The report found that total sales growth slowed for the second month in a row, but there was still an increase compared with a year ago.
Overall, 51% of retailers said volumes were up while 18% said they were down. In the leather and footwear sector, however, 82% of those questioned said that sales volumes were up compared with a year ago. Interestingly, 98% of footwear and leather retailers questioned said that stocks were adequate in relation to expected sales, suggesting that levels have not been reduced over recent months. Imports account for more of supply than a year before according to 51% of vendors - 49% said the levels were similar, and none said they were less.
Expectations for the next six months remain positive for retailers in the footwear and leather sector, with 45% believing the situation will improve, 53% expecting things to stay the same, and only 2% seeing any deterioration.
