Blog: UK retail recovers at snails pace

Joe Ayling | 22 July 2010

A very slim increase in June sales might just be as good as it gets for UK retailers, analysts are suggesting.

Sales volumes rose by 1.3% compared to June last year, which at first glance appears quite measly.

Until, that is, you read that leading analysts at BNP Paribas and Barclays are predicting worse to come, with household spending on the decline and a VAT rise lurking...

And then you realise that the rise is not only measly, but also likely to be short-lived.

It is noteworthy that clothing sales have grown ahead of most sectors during the year so far, with shoppers going out for a bargain more than ever.

Perhaps strangest of all though, is the notion that England's dismal performance in last month's FIFA World Cup actually had a positive effect on spending.

Indeed, Richard Lowe, head of retail and wholesale at Barclays Corporate said: "June was a very strong month for retailers as the World Cup and warmer weather encouraged consumers to spend on electricals, garden furniture and clothing."

If there is any truth in this then new Chancellor George Osborne really does have his work cut out in gauging the nation's mood.


BLOG

Where in the world is worst for worker rights?

An annual survey of violations of human and trade union rights ranks key apparel producing nations including Bangladesh, Cambodia, Colombia, Guatemala, the Philippines and Turkey among the ten worst c...

BLOG

US imports from Bangladesh and Cambodia jump in May

Bangladesh and Cambodia both enjoyed a boost in apparel shipments to the US during May – at around the same time US President Donald Trump said he was mulling a tariff hike on all incoming Chinese goo...

BLOG

The next step in responsible sourcing

An overhaul of the auditing process on factory safety and working conditions is long overdue – and a new initiative could offer the solution. The Social & Labour Convergence Program's Converged Assess...

BLOG

UK government “out of step" on fashion regulation

“Not good enough” and “out of step with the public” are among responses to the UK government’s plan to tackle the growing environmental footprint of the fashion industry – and its apparent rejection o...

just-style homepage



Forgot your password?