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Outlook bleak for Q2 trading

The KPMG/SPSL Retail Think Tank (RTT) has warned that although Q1 sales had not been as bad as it anticipated, the outlook for Q2 is somewhat bleaker.

The RTT, whose members include Nick Bubb of Pali International, Paul Clarke of Barclays, Helen Dickenson of KPMG, Dr Tim Denison of SPSL and Mark Teales of CB Richard Ellis, warned against talking the sector down and said that the depth and duration of the decline in Q2 was far from clear.

The RTT said it expected those consumers that had ignored or shrugged off the effect of the credit crunch to start to take notice and change their shopping habits in the next quarter.

It added that it expected retail margins to continue to deteriorate and that consumer spending would become increasingly promotion driven.

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