Disappointing sales hit UK retailers.

(From FT Investor (Pulses))

High-street shops sold less than expected in January, a CBI survey revealed on Monday, suggesting that pre-Christmas discounting stole some of the usual sales volume at the start of the year. The number of retailers reporting worse business in January than a year ago exceeded those reporting better sales volumes by 8 percentage points. And although the majority foresees an improvement next month, volumes are expected to remain below average for the time of year. But the survey coincided with a regular poll of consumers which said the mood among shoppers brightened to …