The group used data gathered from London Stock Exchange announcements during the first quarter to calculate the overall performance of the retail sector. The research found that 33 per cent of retailers had issued positive statements, 43 per cent neutral and the remainder negative. This compares with just a quarter of retailers publishing positive statements during the same period last year and 27 per cent posting negative results.
However, conditions on the high street remain challenging. The research also highlighted that retailers are becoming increasingly dependent on seasonal promotions and sporting events to boost poor sales.
Grant Thornton head of retail services David Bush said: 'My concern is that during such challenging times, retailers have become overly dependent on short-term sales boosts. While they can pay dividends in the short term, it demonstrates a lack of long-term vision.'
Some 80 per cent of retailers reported improved sales, but only 50 per cent said like-for-like sales had risen. The group said this indicated sales increases being driven by new space and online services, rather than organic growth.
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