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
Hermès adds to concern strong euro may erode luxury sales
19/09/2017 - 09:49
Hermès warned that profitability probably has reached a peak and that the strong euro is set to erode 2018 sales of the company’s Birkin handbags and other luxury goods, spurring concern that the industry’s rebound may become rockier.
Toys ‘R’ Us falls into bankruptcy
19/09/2017 - 09:28
Toys ‘R’ Us, the largest US toy store chain, filed for bankruptcy protection late on Monday.
Bitcoin now accepted at Pick n Pay
18/09/2017 - 14:30
In what its backers are calling “potentially a world first for a major grocery retailer”, shoppers will for a “limited time” be able to pay for their groceries using bitcoin at a Pick n Pay retail store in Cape Town.
Contextual commerce: Engaging shoppers on their terms
18/09/2017 - 11:42
We’re living in the age of the customer. Retailers recognise the need to enable consumers to shop on their terms — however they want, wherever they are.
Clothing & footwear to drive UK E-retail spend to £68.8 billion by 2022
18/09/2017 - 10:59
The UK E-retail market is forecast to rise 35% over the next five years reaching £68.8 billion by 2022, according to GlobalData, a recognised leader in providing business information and analytics.