Stockpiling by UK retailers has hit its highest level on record this month.
The latest survey of Britain’s retail industry, carried about by the CBI, reveals that retailers are preparing for Brexit disruption and the busy Christmas period.
CBI chief economist Rain Newton-Smith said: “Retailers have now endured six months of falling sales, the longest period of decline since the financial crisis.
“The sector is struggling with ongoing digital disruption, layered on top of cost pressures from a weak pound and the cumulative burden of an outdated business rates regime.
“Retailers have also had to contend with the looming Brexit deadline, which has partly driven a record spike in stocks. The timing could not be worse: the run-up to Christmas is a crucial time of year for the retail sector.”
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