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High street sales tumble to lowest level since 2008 crisis

4 September | 05:31 AM | Telegraph | Retail & Consumer

Britain’s retailers suffered a wash-out in August after recording the worst slump in sales since November 2008, when consumers reacted to the financial crisis by clamping their wallets shut. Despite widespread enthusiasm for a return in consumer confidence, retail sales dropped by 4.3pc in August compared to the same month last year, according to figures from BDO’s high street sales tracker. The drop is even steeper than the 1.1pc fall in July and means that sales have fallen every month since May for the first time since 2009. The survey of around 85 medium-sized retailers, such as Gap, French Connection and Hobbs, with around 10,000 outlets, showed that all retail sectors including lifestyle, fashion and homewares recorded lower sales than last year.

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