Retailers are in their worst shape for nearly five years and the industry’s woes look set to deepen in the face of weak demand and soaring costs.
The health of the retail industry dropped by one point to 79 during the first quarter, hitting its lowest level since 2013, according to a KPMG/Ipsos Retail Think Tank report.
It marked the second straight quarter of negative growth, as bitter weather conditions, sluggish footfall and rising personal debt among shoppers left the industry licking its wounds.
