|
Trade News Archive June 08 May 08 April 08 March 08 February 08 January 08
Subscribe to our newsletter Go to The Wholesaler UK Directory
16th June 2008
Retail sales in London soar
Retailers in London have reported sales jumped significantly in May.
The British Retail Consortium (BRC) and KPMG published data that indicated that retail sales in central London were 8.2 per cent higher in May on a like-for-like basis.
This compared to a rise of 1.9 per cent across the UK in general and the 6.3 per cent increase recorded in London in May 2007.
According to the research, sunny weather and sales events boosted clothing and footwear sales. It added that big-ticket items like furniture continued to prove hard to sell, reflecting the housing market weakness and squeeze on household budgets.
Stephen Robertson, the director general of the BRC, commented: "Central London sales growth rose to its highest rate since February as summery weather finally arrived in early May.
"Shopper numbers were up on a year ago thanks to sun and sales bargains."
Helen Dickinson, the head of retail at KPMG, added: "Once again, we see a wide variation in individual retailer performance across the capital. Many have taken advantage of the tough economic backdrop to bring forward high levels of promotional activity to drive footfall and increase sales.
"Whether this is sustainable and what the cost is to the margins of some of the retailers operating in central London will only become apparent in the coming months."
(c) 2008 Adfero Ltd.
Comment on this news story To comment on any story please click on the above link, put the story title in the subject line and please provide your name, trading style ie. retailer or wholesaler and the town where you trade.
|