Sunday, January 13, 2008

Questionable retail figures last month

Is this a slump or an M&S slump?

If the Bank of England had cut rates this month, they would probably have been doing it because M&S strategy failed, not because of a general slowdown. After all, John Lewis figures were up year-on-year in December.

Posted by paul @ 10:26 AM (461 views)
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One thought on “Questionable retail figures last month

  • Paul, I couldn’t agree more. Rose is trying to get the BoE, and necessary interest rate rises, to take the blame for his missinterpretation of the direction M&S should be taking – it is no wonder the cashmere is down from 99 to 49, if they are aiming the brand at cost cutters. I believe there will be a slowdown, but to think that the boom years of the recent past could contnue was always ridiculous. I do, however, feel that the media need to take a huge amount of the blame for slowing consumer confidence, as it has, as an industry done nothing but help raise the prices of housing, etc over the past years and now, has jumped on the bandwagon of destroying the economy, helped ofcourse by the incredible ignorance and criminality of Crash Gordon and his mates. Prices will have to rise as imports become much more expensive in the face of a devalued pound and higher imported inflation. Rates will be cut, (although I personally think they should be kept where they are to help build a fundamentaly strong economy, not a ‘boom/ bust’ economy), but please not on the basis of poor retail, industry and financial decisions, or bullying by individuals or corporations.

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