UK: Retailers report sales volumes growth in June
UK high street retailers reported a further improvement in sales volumes and orders in the year to June, although sales remained below the levels expected for this time of the year, business organisation CBI said today (27 June).
The CBI's latest monthly Distributive Trades Survey, covering the first two weeks in June, found that 58% of retailers saw sales volumes increase on a year ago, and 17% said sales had fallen, resulting in a balance of 42%. This was better than expected, and was the fastest growth reported since December 2010.
Clothing retailers saw annual sales growth for the third month in a row, with 69% of retailers recording a rise. A balance of 96% of footwear and leather retailers saw an increase in sales, the highest survey balance on record.
"Retailers have continued to report strong growth in both their sales and orders," said Judith McKenna, CBI Distributive Trades Panel chair and Asda COO.
"The Jubilee provided a much-needed boost to our high streets with many families and communities making the most of the Bank Holiday and coming together to celebrate.
"However, it is notable that sales were still considered to be below par for the time of year. Weak consumer confidence and uncertainty over the economic outlook are still putting a brake on consumer spending across the whole retail sector."
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