UK footwear and leather retailers performed strongly in the year to September

UK footwear and leather retailers performed strongly in the year to September

Retail sales volumes continued to grow solidly in the year to September, albeit at a slightly slower pace than in the previous month, according to new figures released today (25 September).

According to the latest monthly Distributive Trades Survey from the Confederation of British Industry (CBI), sales growth was led by department stores, with footwear and leather retailers also performing strongly.

In terms of wholesaling, sales growth in clothing, textiles and footwear was "the highest on record," the survey showed.

"Solid growth continues on the high street, with most sectors doing decent business and department stores performing particularly well," noted Rain Newton-Smith, CBI director of economics. "Retailers are expecting sales to grow again next month, but at a steadier pace."

Key findings of the survey of 123 firms showed that 48% of retailers said sales volumes increased, while 17% said they fell, giving a balance of +31%

Growth was broad based across most sub-sectors, with department stores performing particularly strongly (+100%), along with footwear & leather retailers (+61%). 33% said that orders were up, while 15% said they fell, giving a balance of +19%

The volume of sales over a three-month moving average was +30%, the highest since February 2013 (+33%).

Retail sales volumes are expected to rise strongly again in the year to October, but the pace of growth is set to ease.