Welcome to Enterprise NewsLine  

Weather dampens retail sales

Weak retail sales are being blamed on the bad weather.

The British Retail Consortium (BRC)-KPMG Retail Sales Monitor for July found sales rose 1.2% on a like-for-like basis compared to a year earlier. But the growth was the weakest since November last year and was just half the monthly average for the second quarter of the year.

The BRC said the figures had been distorted by the effects of the torrential rain and because the period was being directly compared to last July, when the the football World Cup was taking place.

Food sales were down from last year and the rain hit clothing, footwear, DIY and gardening sales.

Interest rates are also hitting consumer spending and people's plans to buy big ticket items have been scaled down, the BRC said.

 
Powered by Movable Type 3.2