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ONS Retail stats - Barclays' comment

http://www.ons.gov.uk/businessindustryandtrade/retailindustry/bulletins/retailsales/oct2016

Commenting on today’s ONS Retail Sales figures, Ian Gilmartin, Head of Retail & Wholesale at Barclays, said:

“An excellent result for retailers in October, once again defying gloomier predictions with the tills continuing to ring. More seasonal weather provided a timely fillip for fashion retailers, but it’s the strength across the board that really demonstrates the resilience of the industry.

Inflation is the buzzword on everyone’s lips at the moment, yet these results show that so far retailers are largely resisting price increases. That’s going to be the crucial dilemma as we move into 2017. Rising costs for retailers are a growing reality, and the extent to which they swallow these costs or pass them onto customers is the big question. Retailers are clearly thinking long and hard before making a decision on price, as getting the balance right to ensure margins are protected but demand isn’t stifled is essential if retailers are going to carry this month’s success into next year.”
About Barclays

Barclays is a transatlantic consumer, corporate and investment bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.

With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 130,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.home.barclays .