UK clothing retailers record October sales growth

UK: Clothing retailers record October sales growth

By Petah Marian | 30 October 2012

UK clothing retailers saw October sales rise for the first time since July, with the latest CBI Distributive Trades Survey finding 57% of retailers recorded sales growth during the month.

Clothing recorded the second-largest gains in the period, which included the first two weeks of October, while footwear and leather grew for the seventh consecutive month. A balance of 39% of retailers recorded higher sales.

Overall retail sales were better than expected, with 30% of retailers recording growth, double the expected 15%.

Despite overall sales growing for the second consecutive month, high street retailers still consider the volume of sales to be below average for the time of year.

"It is great news that last month's sales growth has continued into October, at a much faster pace than expected, and that this momentum is expected to continue next month too, said Anna Leach, CBI head of economic analysis.

"Falling inflation has somewhat eased pressures on family budgets, so that households are a little more willing to spend.

"But there's still a risk that on-going uncertainty over the global economic outlook could dent consumer confidence, hitting prospects for the retail sector, while the scope for inflation to fall further is limited."

Sectors: Retail