Group blames tough retail market
Home shopping retailer Findel revealed a dip in sales today and forecast its full-year performance to be slightly below previous expectations.

Sales in the home shopping division were down 7 per cent for the first six months of the year to September 30. Findel said the drop in sales reflected the weakening retail market and higher interest rate charges.

Group sales in the first six months increased by 21 per cent. However, like-for-like sales declined by 1 per cent.

Retail analyst Numis, which acts as a broker to the company, admitted that the performance of home shopping had been 'a little disappointing'.

Findel's turnover last year was£421.1 million. The retailer will announce its interim results on December 1.

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