Sunderland and Durham Area - Retail

horokeio · January 10th, 2011, 03:00 PM

Some bad, though unexpected, reports which could mean uncertainty ahead for Wearside's retail sector:

Austerity-hit retailers widen north-south gap

The north-south retail divide is growing as chains scale back expansion into the north to concentrate on the more affluent and profitable south.

Jones Lang LaSalle, a comercial property agent, has just published a report on the retail industry which found that parts of the north will be hit hard. "Job uncertainty combined with the VAT rise and the post-Christmas curb in spending will all have an inevitable negative impact on purchasing power and consumer confidence, particularly in the north of England, resulting in lower retail sales," say the report's authors.

Retailers including America's Best Buy have recently pulled out of plans to open shops in the north amid fears that consumers there are being hit hardest by job losses and government cuts. Anecdotal evidence from retailers has shown the North-east and Northern Ireland are already hurting the most.

Full article: http://www.independent.co.uk/news/bu...p-2179578.html

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January 10th, 2011, 03:00 PM	#10
horokeio Ma nishma? Join Date: Jan 2009 Location: Sunderland Posts: 1,197 Likes (Received): 2	Some bad, though unexpected, reports which could mean uncertainty ahead for Wearside's retail sector: Austerity-hit retailers widen north-south gap The north-south retail divide is growing as chains scale back expansion into the north to concentrate on the more affluent and profitable south. Jones Lang LaSalle, a comercial property agent, has just published a report on the retail industry which found that parts of the north will be hit hard. "Job uncertainty combined with the VAT rise and the post-Christmas curb in spending will all have an inevitable negative impact on purchasing power and consumer confidence, particularly in the north of England, resulting in lower retail sales," say the report's authors. Retailers including America's Best Buy have recently pulled out of plans to open shops in the north amid fears that consumers there are being hit hardest by job losses and government cuts. Anecdotal evidence from retailers has shown the North-east and Northern Ireland are already hurting the most. Full article: http://www.independent.co.uk/news/bu...p-2179578.html