Retail sales up, hot weather helps

Tue Jul 14, 2009 12:53pm BST
 
Email | Print | | Single Page
[-] Text [+]

LONDON (Reuters) - Retail sales rose in June as a heatwave drove consumers into the shops to stock up on summer clothes, picnic food and garden furniture, a survey by the British Retail Consortium showed on Tuesday.

The BRC said like-for-like sales rose 1.4 percent last month compared with a year ago, more than reversing a 0.8 percent drop in May.

Total sales, which include new floorspace, were up 3.2 percent on the year, having risen 0.8 percent in May.

"The heatwave helped food retailers and got customers buying outdoor goods," said BRC Director General Stephen Robertson, adding that clothes retailers had also benefited.

But sales of larger items continued to suffer as consumers tighten their belts in the face of the economic downturn.

"Given the uncertainty about jobs, customers are still nervous about spending on more expensive non-essentials," Robertson added.

Sales of electrical goods were subdued and the BRC said the continued weakness of the housing market combined with the hot weather meant people spent less on indoor furniture but bought garden items instead.

Clothing sales picked up strongly from a year ago after poor weather last June hit sales, but some retailers had started their summer discounting period slightly earlier this year, the BRC said.

(Reporting by Fiona Shaikh; editing by Stephen Nisbet)

 
Anthony Bolton, president for investments at Fidelity International, an affiliate of Boston-based Fidelity Investments, the world's biggest mutual fund firm, listens to a reporter's question during a news conference in Seoul October 21, 2009.   REUTERS/Lee Jae-Won
Bolton bets on China

Top-performing fund manager Anthony Bolton says he plans to return to managing money next year, with a focus on the increasingly important Chinese market.  Full Article 

Market Update

  • UKUK
  • USUS
  • Europe
  • Asia
  • UK Most Actives

Most Popular Business News on Reuters UK

  • Articles
  • Videos