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UK retail sales fall in June

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Update: 2016-07-12 09:22:06
UK retail sales fall in June Photo Courtesy: screenmediadaily.com

DHAKA: UK retail sales fell in June triggered by weak clothing sales, according to the latest British Retail Consortium-KPMG survey.

The survey indicates they fell by 0.5% in June on a like-for-like basis, which strips out variables in store space.

Helen Dickinson, BRC’s chief executive, said it was ‘too early’ to say if shoppers were affected by the result of the EU referendum, reports the BBC.

The wet weather is thought to have dampened shoppers’ enthusiasm.

‘While the ramifications from the Brexit vote may well affect consumer confidence, retailers will be hoping the long-promised heatwave and potential stay-at-home holidays will be enough to drive shoppers back to the high-streets,’ said David McCorquodale, head of retail at KPMG the accountancy firm which sponsored the survey.

In May spending rose by 1.4% and like-for-like sales, which takes into account changes in the amount of retail space open to shoppers over the past 12 months, increased by 0.5%.

Total retail sales were up 0.2% in June compared with a year ago, but slowed towards the end of the month.

BDST: 1920 HRS, JUL 12, 2016
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