Home news Sunshine boost helps high street sales grow

Sunshine boost helps high street sales grow

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Hot weather last month helped Britain’s beleaguered retailers enjoy their best June sales growth in six years, new figures show.

Like-for-like sales grew by 1.3% compared to the same month last year – a period when consumers were holding back amid uncertainty around the Brexit vote.
The figures from BDO’s High Street Sales Tracker offered a ray of sunshine for retailers after four months without growth as consumers face a squeeze from rising inflation and slowing wage growth.
Fashion led the way as shoppers updated their wardrobes amid the heatwave.
The figures appeared to show a drag on sales around the time of the General Election but an upturn when the weather warmed up.
Last month saw Britain record its hottest June day since 1976.

Sophie Michael, head of retail and wholesale at BDO, said: “This June, consumers were distracted by a General Election, but that didn’t stop them heading to the shops when the sun came out.
“Retailers will take heart from consumers’ willingness to spend, but there is evidence shoppers are delving into their savings which is clearly not a sustainable position.”
Official figures last week showed household disposable income, adjusted for inflation, has been in decline for its longest stretch since the 1970s.
That has prompted the rate of savings by households to collapse to its lowest level since records began more than 50 years ago.

Source: SKY News