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Retail sales boost of 2.5% ‘barely touching the sides’ of costs, sector warns
Retail sales rose 2.5% year-on-year in July but failed to cover £7 billion in new costs, driven by food inflation and shoppers seeking affordable luxuries, British Retail Consortium said.
- Retail sales surged 2.5% in the four weeks ended 2 August, British Retail Consortium data show, but the sector warns growth is barely touching the sides of covering the 7 billion in costs.
- United Kingdom food sales benefited from warm weather, with online retail spending excluding groceries reaching 4.9% from 2.4%, Barclays reports.
- In-Store and online channels diverged as non-food sales grew 1.4% after a 1.8% decline last July, with online penetration rate decreasing to 34.8% from 35.1%.
- Facing rising costs, Helen Dickinson warned growth is barely covering the 7 billion costs from the last Budget and inflation adds trading pressures.
- Sales Monitor data warns this momentum will not stave off challenges later in the year, as consumer confidence fell to 22%, the lowest since January’s 21%.
13 Articles
13 Articles
Rising sales not enough to fend off job losses and store closures - Credit Connect
Data from the British Retail Consortium (BRC) and KPMG shows that retail sales in the UK increased by 2.5% year on year in July, with this driven by warm weather and major sporting events. Total retail sales increased by 2.5% year on year in July, against a growth of 0.5% in July 2024. This was above the 12-month average growth of 1.9%. Food sales increased by 3.9% year on year in July, against a growth of 3.3% in July 2024. This was above the …
Weather, Sport, And Higher Food Prices Boost Retail Sales, But Higher Costs Issue Remains
The latest BRC-KPMG Retail Sales Monitor shows the sector benefited from the good weather and major sporting events last month, although the uplift “barely touched the sides” of covering the hike in costs imposed on retailers that resulted from the (more…) The post Weather, Sport, And Higher Food Prices Boost Retail Sales, But Higher Costs Issue Remains appeared first on KamCity.
Sales rise in July but many jobs and stores still at risk, says BRC
UK total retail sales increased by 2.5% year on year in July, against a growth of 0.5% in July 2024, according to the BRC-KPMG Retail Sales Monitor. Food sales increased by 3.9% year on year in July, against a growth of 3.3% in July 2024… This story continues at Sales rise in July but many jobs and stores still at risk, says BRC Or just read more coverage at Talking Retail
Retail sales up 2.5% in July despite job losses and store closures
Retail sales in the UK rose 2.5% in the four weeks ended 2 August against a growth of 0.5% in July 2024, according to the latest data from the British Retail Consortium (BRC). As part of this increase, food sales rose 3.9% year-on-year in July, beating a tough comparative of 3.3% in July 2024. This increase was also above the 12-month average growth of 3.2%. Furthermore, non-food sales increased by 1.4% year on year, compared with a decline of 1…
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