|
|
Article: Rose upbeat on signs of growing consumer confidence
- Article from:
- The Scotsman
- Article date:
- October 1, 2009
- Author:
CopyrightCopyright 2009 The Scotsman. Provided by ProQuest LLC. (Hide copyright information)
|
MARKS & Spencer posted an improvement in its quarterly sales
trend yesterday, as executive chairman Sir Stuart Rose insisted
"Armageddon has not taken place" in the high street.
Rose said he was "quietly confident" about trading prospects for
Christmas, when the retailer will take on 20,000 temporary staff -
5,000 more than last year. "It's going to be an important third
trading quarter for us," Rose said.
But he added that, with rising unemployment and taxes, including
the restoration of VAT to 17.5 per cent from 15 per cent from 1
January, it would be 2011 before the economy fully recovers. "It's
going to be tough going for the next 12, 18 months. It's going to be
2011 before UK plc is ...