While 28 per cent of retailers said sales volumes in the first two weeks of January were up on a year ago, 38 per cent said they were down, giving a rounded balance of -11 per cent. This was broadly in line with expectations and, with the exception of the Christmas period, was an improvement on the past six months, when it ranged between -18 and a record low of -35 in November.
Expectations for sales in February are the best since May last year but looking at the longer-term, sales continue to be well down for the time of year and by more than had been expected, said the CBI.
The strongest annual increase was reported by grocers. Clothing stores reported further growth, although sales fell in the footwear and leather sector. Volumes in sectors linked to the housing market remained down on trends from a year earlier.
John Longworth, executive director of Asda and chairman of the CBI's Distributive Trade Survey Panel, said: 'Looking ahead, expectations for growth are the strongest since May, but sales remain heavily dependent on price discounts and promotions.'
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