United Kingdom : UK retail sales down 0.5% in five weeks to July 2

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UK retail sales down 0.5% in five weeks to July 2

14
Jul '16

For the five week period from May 29 to July 2, 2016, UK retail sales dropped 0.5 per cent on a like-for-like basis from June 2015, when they had increased 1.8 per cent from the preceding year.

On a three-month basis, total UK retail sales grew 0.5 per cent and 1.2 per cent on a 12-month average basis, which is the lowest 12-month average since May 2009.

CEO of British Retail Consortium (BRC) Helen Dickinson said, “Retail sales grew in June, albeit with total growth slowing to 0.2 per cent. While sales did slow towards the end of the month, it is too early to define this as a trend.”

“The month outturn was predominantly driven by a decline in sales in the fashion categories and isn't a surprise given that June 2015 saw record growth in clothing and footwear,” she added.

According to the BRC report, the EU referendum vote has not changed the relentless pursuit of delivering for customer's day in, day out or their investment.

“Despite the fall in the pound, the time it takes for any input price increases to translate into higher shop prices, includes further changes in the pound, commodity prices and the challenge for retailers to move pricing,” the trade body added. (AR)

Fibre2fashion News Desk - India

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