{"id":166452,"date":"2020-05-26T12:43:00","date_gmt":"2020-05-26T12:43:00","guid":{"rendered":"https:\/\/www.theindustry.fashion\/retail-deeply-depressed-amid-covid-19-shutdown-cbi-finds\/"},"modified":"2021-08-06T12:05:52","modified_gmt":"2021-08-06T12:05:52","slug":"retail-deeply-depressed-amid-covid-19-shutdown-cbi-finds","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/retail-deeply-depressed-amid-covid-19-shutdown-cbi-finds\/","title":{"rendered":"Retail \u2018deeply depressed\u2019 amid Covid-19 shutdown, CBI finds"},"content":{"rendered":"<p>Retail sales bounced back from April\u2019s record lows but still remained \u201cdeeply depressed\u201d over the last 12 months as<strong> four in five retailers say they are facing cashflow difficulties.<\/strong><\/p>\n<p><!--more--><\/p>\n<p>New data from the Confederation of British Industry (CBI) found its measure of retail sales <strong>volume had picked up from -55% to -50% in May.<\/strong><\/p>\n<p>April\u2019s figures were the<strong> joint-fastest declines in the survey\u2019s 37-year history<\/strong> but a bounce in the grocery sector offset some of this a month later.<\/p>\n<p>\u201cThe <strong>retail sector is at the sharp end of a crisis<\/strong>, with many businesses up against it,\u201d said Rain Newton-Smith, the CBI\u2019s chief economist.<\/p>\n<p>\u201cThe Government\u2019s support packages are making a real difference, with more shops reporting that jobs have been furloughed, rather than lost. The <strong>furlough system will need to adapt as more businesses open their doors<\/strong> in the months ahead.\u201d<\/p>\n<p>The survey, which <strong>measures responses from 87 retailers,<\/strong> found sales volumes are expected to fall again next month. The drop will likely once more be a little slower, but still at historically poor rates.<\/p>\n<p>A Covid-19 survey run by the CBI also suggested the disruption to supply chains has become worse since April, with <strong>58% of retailers now saying they are struggling to get enough of some goods.<\/strong><\/p>\n<p><a href=\"https:\/\/www.theindustry.fashion\/podcasts\/\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-143045 size-full\" src=\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/POP_UP_AD.png\" alt=\"\" width=\"1930\" height=\"282\" \/><\/a><\/p>\n<p>Others are experiencing high levels of shipping delays and constrained capacity.<\/p>\n<p>Around 80% of retailers reported they were having difficulty with cashflow. This was down from 96% in last month\u2019s figures, the CBI said.\u00a0Just over half have reported laying off staff temporarily.<\/p>\n<p>Newton-Smith added: \u201cAs we gradually reopen the economy, <strong>retailers may yet need more support from the Government if demand falters.<\/strong><\/p>\n<p>\u201cEnsuring safety in the workplace remains the top priority as more firms look to bring staff back to work. Many challenges remain in managing supply chains and costs in a tough environment.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":68,"featured_media":138633,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[16042,10585,6,10494],"tags":[13737,17442,19719],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Retail \u2018deeply depressed\u2019 amid Covid-19 shutdown, CBI finds - TheIndustry.fashion<\/title>\n<meta name=\"description\" content=\"Retail sales bounced back from April\u2019s record lows but still remained \u201cdeeply depressed\u201d over the last 12 months as four in five retailers say they are\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theindustry.fashion\/retail-deeply-depressed-amid-covid-19-shutdown-cbi-finds\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Retail \u2018deeply depressed\u2019 amid Covid-19 shutdown, CBI finds - 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