MARKET TALK: UK VAT Rise Protects Christmas Trading - Barclays

22nd Jun 2010 14:35

1335 GMT [Dow Jones] The timing of the rise in value-added-tax to 20% from 17.5% from January 4 next year protects the key Christmas trading period and will benefit retailers, says Head of Retail & Wholesale at Barclays Corporate, Richard Lowe. He says the timing will also help stimulate sales between now and then as shoppers bring planned big-ticket purchases forward before the change. He says retailers will have been looking at cost bases and price points since January 2010. DSG +2.8% at 28p, M&S +2.6% at 352p, Next +2.3% at 2193p, Tesco +1.9% at 395p. Sainsbury +0.8% at 332p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 22, 2010 09:35 ET (13:35 GMT)