'Bunting boost' lifts retailers, but June is a washout for sales
Tuesday 10 July 2012
A Diamond Jubilee "bunting boost" for the high street saved retailers' blushes last month, but the June deluge washed out sales for the rest of the month, the British Retail Consortium (BRC) has reported.
Shoppers temporarily put aside fears over the economy to pack in party foods like crisps, cake and dips ahead of the long weekend, leaving like-for-like retail sales up by 1.4 per cent on a year earlier. But the wettest June on record killed off sales for the rest of the month as retailers struggled to shift summer clothes.
Stephen Robertson, the BRC's director general, said: "It was the bunting boost. June was saved by the feelgood lift of the Jubilee, showing how crucial these temporary factors are in difficult trading conditions."
He added: "Sadly, the soggy celebrations over the Jubilee weekend itself, which heralded the start of the wettest June on record, were followed by far weaker business for the rest of the month."
Helen Dickinson, head of retail at KPMG, added: "Women's clothing continues to find the going tough because fashion spending is especially discretionary and we've all forgotten what the sun looks like."
Even the England football team's better-than-expected showing at the European Championships failed to offer a significant boost to sales as consumers remained reluctant to shell out on big-ticket goods. Overall retail sales during the past three months were down by 0.1 per cent on a year earlier.
Data from Visa Europe – based on debit, credit and prepaid card transactions accounting for a third of UK consumer spending – confirmed the sluggish trend. Spending fell at an accelerated rate in June, sliding 3.8 per cent year-on-year against a 1.8 per cent annual fall in May, its figures showed.
Visa Europe's commercial director, Steve Perry, said: "Blaming the rain for shoppers staying away from the high street will not wash, as online spending was down 5.5 per cent and telephone orders down 8 per cent. Although the Jubilee generated a modest boost in month-on-month consumer spending, the underlying trend remains dreary."
- 1 Game of Thrones season 6: Jon Snow theorists believe Ned Stark's son may have a twin sister
- 2 Artist takes LSD, draws herself over different stages of the 9-hour trip to show its effects
- 3 Miley Cyrus address Robin Thicke VMA controversy: ‘He wanted me as naked as possible, but I got the heat because I’m a woman’
- 4 iPhone 6s camera: features to include 4K video camera and flash for selfies
- 5 A pint of water every day is the key to losing weight, scientists say
Miley Cyrus address Robin Thicke VMA controversy: ‘He wanted me as naked as possible, but I got the heat because I’m a woman’
Most expensive city to live in for expatriates: Luanda, Angola takes number one spot with Hong Kong and Zurich in top three
Irish tourist filmed fighting with shopkeepers in Turkey says they 'messed with the wrong man'
House of Lords: Outcry as donors, fixers and MPs caught up in expenses scandal get peerages
Moody neurotics are more likely to be creative geniuses, study says
Dresden riots: Protesters in Germany attack refugee buses shouting 'foreigners out'
France train shooting: US soldiers speak of the moment they stopped gunman and 'beat him until he was unconscious'
Labour leadership: Jeremy Corbyn accused of 'deluding' young supporters with 'claptrap'
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
iJobs Money & Business
£25000 - £30000 per annum: Recruitment Genius: From modest beginnings the comp...
£35000 - £40000 per annum: Recruitment Genius: From modest beginnings the comp...
£15000 - £65000 per annum: Recruitment Genius: This is an exciting opportunity...
£18000 - £20000 per annum: Recruitment Genius: This is a fantastic opportunity...