British retailer’s sales have hit hard times due to a large sales drop in March because of late timing of Easter according to British Retail Consortium. According to reports from Reuters 1.7 percent has dropped from like-for-like sales in March for terms of value with a 0.7 rise in January.
Retailers took a low blow from March last year when Easter started early that month. Luckily the sale start much later (April 18th – April 21) giving them a bit of a heads up to prepare.
BRC Director General Helen Dickinson said: “Sales figures are stronger than might have been expected given the fact that Easter has fallen so late this year,”
Food retailers suffered the most from this drop by 1.7 sales, which is seen as the biggest drop since the British Retail Consortium records began in 2006. “The decision by some of the major grocers to go head to head in a billion pound price war will exacerbate this situation,” said David McCorquodale, head of retail at accountants KPMG. “Investors will be keeping a keen eye on the sector as they wait to see how these discounts will impact profits and performance, but the winner in this case will be the consumer.”