High street sales drop

Tuesday 15th July 2008

UK high street sales dropped in June after a brief May shopping rise.

Data from the British Retail Consortium (BRC) show a 0.4 per cent annual drop in like-for-like sales in June.

Total sales – not factoring out the effect of new stores – rose 2.1 per cent.

Over the last three months like-for-like sales fell 0.03 per cent.

The BRC explained changeable weather – after May's sunny days – hit June sales but "underlying trade remained tough, with widespread discounting".

Food and drink was the only sector to see growth – compared with a poor showing in June 2007 – and clothing and footware dropped back after May's sun-fuelled shopping bonanza.

Helen Dickinson, head of retail at accounts KPMG, said: “Although total retail sales grew by 2.1 per cent in June, they continue to be impacted both by food inflation and the wider economic climate.

"Consumers are managing their budgets carefully to mitigate the effects of these inflationary pressures and the food retailers continue to focus on keeping consumer prices down through high-profile promotional activity, despite the increase in oil and commodity prices."

ADNFCR-1783-ID-18684269-ADNFCR

Related News

FTSE 100 flat - 14/07/08
The FTSE 100 closed up 0

Tax breaks 'could help long-term sick' - 14/07/08
The government should use tax incentives to push companies towards more rehabilitation for the long-term sick, a report says

Alliance & Leicester confirms takeover talks - 14/07/08
Alliance & Leicester (A&L) has confirmed it is in an "advanced stage" of takeover talks with a Spanish bank

Profit warnings hit seven-year high - 14/07/08
UK profit warnings rose 11 per cent compared with last year in the second quarter of 2008

FTSE 100 up on opening - 14/07/08
The FTSE 100 jumped on opening on news of US mortgage bail outs and a bid for Alliance & Leicester

<< Back To News Listings

News Article Search

Quick Apply