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News - 12 July 2011
Retail surprise in June
Shops began their summer sales early in June and as a consequence, although still in negative territory, UK retail sales have slowed their rate of decline. Will it last or is it just a summer respite to some of the worst trading conditions retailers have seen for 20 years?
The latest British Retail Consortium figures show like-for-like sales falling by 0.6% from a year ago but that is a marked improvement from the 2.1% drop in May.
Clothing, footwear and big ticket items showed no improvement but smaller home goods sold well in early clearance sales.
The past month has seen several failures of High Street fascias, including Habitat, TJ Hughes department store, Jane Norman and Moben while other including Thorntons, HMV and Mothercare, have announced shop closures.
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British Retail Consortium