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Home : More : Start-up News

Philip Green predicts second retail slump

Owner of the retail group Arcadia, Philip Green, said the stock market had risen too far too soon and predicted 2010 would be another difficult year for the retail sector.

In an interview with news agency Reuters, Green said a retail recovery would be slow. "I think the (stock) markets are way ahead of events. I think it's going to be hard work ahead, a long slog," he said ahead of the release of Arcadia's full-year results on the 22nd of October.

He went on to say "Things always change in an election year, the VAT coming back (up to 17.5 percent in January), unemployment's still a factor, the daily discussion about public finances.

"You take those four headings, business is going to be tough certainly for the next year, I don't see any easing in the next 12 months,".

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By LaunchLab.co.uk on Oct 22,2009

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robert
Small business Small Business owners are largely forgotten. Thats why I only focus on them. I have experience several members of my family file bankruptcy due to small business failures. I also I suffered through 2 destroyed businesses due to failure however, in my failings I have learned some of the secrets to success. (Who can say they know it all? What I like about small business owners is that they are not afraid to take huge risks and lay it all on the line. But, I agree they do need a lot of help with their marketing. I think having them go the social media and email route is not only the least expensive but its also the most effective. Thanks for the stats!......... www.onlineuniversalwork.com Report Abuse

Alan Alexander
Sir Philip Green has warned that the recent stockmarket rally has gone too far, on a morning when shares fell sharply in early trading in London. Speaking after his Arcadia group reported a 13% jump in profits, Green warned that 2010 will be another tough year for the corporate sector like writer jobs.
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