No recovery until 2011 or later: this is the base case of 31 top retail executives, including Sir Stuart Rose and Peter Marks, CEO of the Co-operative Group. The retailers also expect inflation, a hike in the VAT rate and increasing mergers and acquisitions in the industry, shows The long and winding road, a report by Sarah Butler for Kreab & Gavin Anderson.
Today’s European confidence figures, by contrast, are mostly up, driven by bullishness in the industrial sector. A lower euro is helping producers. But lower sterling is having the opposite effect on retailers. “Sterling has weakened and that will feed through to non-food prices because of