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Retail gloom set to worsen

Trading conditions are set to worsen this year, according to a retail think tank.

KPMG/SPSL, the industry panel which monitors retail sector health, said the difficult trading that characterised last year was set to deteriorate further in the first quarter of this year.

Like-for-like sales growth would be negative as consumers are hit by lower disposable income and concerns over the credit crunch. It added that retailer margins would worsen as costs increase.

The group said it was the most pessimistic set of predictions since it was formed in 2006.

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