"Retail sales rose above estimates in July with the UEFA Women's Euro 2025 tournament helping to bring sales home for retailers. Sales volumes rose across most sectors, with non-store retailers and clothing stores showing particular strength. The warm weather in July also helped retailers score, but the question is how long can this be sustained. The summer's feel good factor is well and truly over. Looming tax rises and rampant speculation are likely to keep consumers cautious in the run up to the Budget."
"The warm weather in July also helped retailers score, but the question is how long can this be sustained. The summer's feel good factor is well and truly over. Looming tax rises and rampant speculation are likely to keep consumers cautious in the run up to the Budget. With the weather also starting to change for the worse, retailers will be lucky to not be caught offside in the coming months"
"The Office for National Statistics has reported retail sales figures increases in the UK in July. Retail sales volumes rose by 0.6% in July following a rise 0.3% in June but above estimates of a 0.3% rise. Non-food store sales volumes rose by 2.5%. Food fell by 0.2% and clothing sales volumes rose by 2.5%. Retail sales rose above estimates in July with the UEFA Women's Euro 2025 tournament helping to bring sales home for retailers."
Retail sales volumes in the UK increased 0.6% in July, after a 0.3% rise in June, exceeding forecasts of 0.3%. Non-food store sales rose 2.5%, and clothing sales increased 2.5%, while food sales fell 0.2%. UEFA Women's Euro 2025 and warm July weather supported higher retail demand, with non-store retailers and clothing stores particularly strong. Concerns remain about sustainability as consumer caution could grow because of looming tax rises, rampant speculation, and worsening autumn weather, potentially weakening retail performance ahead of the Budget. Retailers may face headwinds in coming months if these pressures intensify.
Read at London Business News | Londonlovesbusiness.com
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