Home shopping group Findel has revealed a 4 per cent fall in group sales for the 39 weeks to January 2 – a performance it labelled “satisfactory in the current market”.

Sales at the home shopping division fell 6 per cent, “reflecting not only the economic environment but also a planned reduction in recruitment in the credit business”.

Findel’s education supplies arm suffered a 3 per cent sales slip but the retailer noted: “Sales demand is cumulatively 1 per cent ahead.”
Findel’s healthcare operation notched up a 14 per cent sales advance in the period.

Seymour Pierce analyst Freddie George said: “In what will continue to be a very difficult trading environment for the business, particularly in the credit division, we are encouraged by these figures.”