UK retail has biggest June sales rise for six years
Reuters.com - Jul 10th, 10:32
British shops enjoyed their biggest rise in June sales in six years, a survey showed on Friday, helped by warm weather and weak numbers in the same month last year.
Britain's economy has slowed as the rise in inflation since last year's Brexit vote and modest pay growth have hurt consumer spending. Recent surveys have shown a sharp drop in consumer confidence.
However, accountancy firm BDO said its monthly High Street Sales Tracker found overall like-for-like sales rose 1.3 percent in June.
"This growth was off a negative base of -3.6 percent for the same month last year, but after four months with no growth, this might offer a ray of sunshine to UK retailers," BDO said.
It said fashion sales increased 1.4 percent, while homeware sales were up 0.5 percent.
"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," said Sophie Michael, head of retail and wholesale at BDO.
Some Bank of England officials believe the consumer slowdown will be offset by higher exports and investment. However, two of the eight sitting monetary policy makers voted last month for a rate hike. A third supporter of a hike has since left the BoE.
Reports from retailers themselves have been mixed. On Thursday, Associated British Foods' (ABF.L) budget fashion arm Primark reported a strong quarter of trading and last week electricals retailer Dixons Carphone (DC.L) said the consumer environment was holding up.
However, last month sofa retailer DFS Furniture (DFSD.L) warned on profit. © BusinessLIVE MMXVII
Checkers partners up with UberEATS
17/11/2017 - 14:37
Checkers announced it is partnering with UberEATS to make holiday entertaining even more convenient for its Cape Town consumers this summer.
Weylandts launches concept store in Sandton City
17/11/2017 - 14:13
SA’s leading furniture and homeware retailer, Weylandts, has launched an exciting new concept store in Sandton City. A dramatic luxury hotel-themed shop fitting canvas has been created on which to display their furniture and homeware, providing a shopping experience unique to South Africa.
Walmart online growth leaps 50%, lifts annual profit guidance
17/11/2017 - 13:42
Walmart is on a roll as it continues to reap the benefits of its e-Commerce push, seeing 50% online sales growth in Q3. The total remains well ahead of Walmart’s 40% e-Commerce growth projections for 2018.
Trading hardship continues for Italtile
17/11/2017 - 11:19
Italtile says weak trading conditions in the second half of the financial year persisted in the 19 weeks from July 1 to November 10.
Festive retail sales may help give GDP a boost
16/11/2017 - 13:53
The retail sector is set to make a positive contribution to third-quarter GDP as retailers adapt to the difficult economic conditions and as they look forward to the festive season for relief.