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Is the deficit reduction programme good for retail?


Posted At: 20 October 2010 00:18 AM
Related Categories: Retail


I was interested to read in a letter to the Daily Telegraph the other day that various captains of industry were wholeheartedly urging the government to cut fast and deep.  I was interested because the undersigned included: Will Adderley (Dunelm Group); Robert Bensoussan (L.K. Bennett); Andy Bond (ASDA); Ian Cheshire (Kingfisher); Charles Dunstone (Carphone Warehouse Group); Ben Gordon (Mothercare); Stefano Pessina (Alliance Boots); Sir Stuart Rose (Marks & Spencer); Joseph Wan (Harvey Nichols); Simon Wolfson (Next).  Employing nearly half a million workers and generating nearly £60bn of revenue between them, they must surely have a handle on business in the UK? 

Interestingly, Sir Terry Leahy (Tesco), whose empire employs a similar number of people and generates similar revenue to the sum of the above, was not a signatory.

I asked Geoff Nicholson, our MD, for his view.  You can see what he had to say on the FSP website here

NB revenue and employee statistics available from SnapShop's Accounts Analysis.

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The opinions expressed herein are the personal opinion of the author and are not intended as statements of fact and do not represent the view of SnapShop or Pragma in any way.


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