The CBI’s survey found a sharp decline in sales volumes triggered by the poor weather, with 40% of retailers reporting that sales volumes were down in March compared with the same month a year ago. H&M cuts prices after cold snap leads to profits slump Read moreThe bleak snapshot of high street trading provided by the CBI showed department stores, shops selling recreational goods and furniture retailers experienced some of the biggest falls in sales. Grocers, footwear shops, and hardware and DIY outlets had a better month, reporting positive sales growth. “The lengthy cold snap earlier this month has heaped added pressure on retailers,” he said. Wholesalers and motor traders also felt the chill, with both sectors reporting noticeable slowdowns in sales growth in the year to March.

Source: The Guardian March 28, 2018 10:55 UTC