Tuesday, September 26, 2017

Retail sales sees rise in July

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Retail sales have jumped in July as discounting successfully tempted shoppers in to shop, the latest CBI trade survey has found.

The retail sales balance rose from +4 in June to +21 in July – a rise that more than recovered the past month’s weakness.

They are expected to rise by a faster pace in August. Official figures showed retail sales fell 0.5 per cent in May for the first time since January. (LINK) The CBI said the outlook remains bright for a continued and robust recovery in retail spending over the second half of the year.

Barry Williams, chair of the CBI distributive trades survey panel and Asda SVP and chief merchandising officer for food, said: “As the temperature began to rise, it seems so did sales volumes. Almost all sectors saw growth, with grocers and clothing stores telling us they performed particularly well as people bought barbeque supplies and summer outfits.

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