Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

UK Retail Has Biggest June Sales Rise for 6 Years

The rise was helped by warm weather and weak numbers in the same month last year.
Shoppers on Oxford Street, London | Source: Shutterstock
By
  • Reuters

LONDON, United Kingdom — British shops enjoyed their biggest rise in June sales in six years, a survey showed on Friday, helped by warm weather and weak numbers in the same month last year.

Britain's economy has slowed as the rise in inflation since last year's Brexit vote and modest pay growth have hurt consumer spending. Recent surveys have shown a sharp drop in consumer confidence.

However, accountancy firm BDO said its monthly High Street Sales Tracker found overall like-for-like sales rose 1.3 percent in June.

"This growth was off a negative base of -3.6 percent for the same month last year, but after four months with no growth, this might offer a ray of sunshine to UK retailers," BDO said.

ADVERTISEMENT

It said fashion sales increased 1.4 percent, while homeware sales were up 0.5 percent.

"Retailers will take heart from consumers’ willingness to spend, but there is evidence shoppers are delving into their savings which is clearly not a sustainable position," said Sophie Michael, head of retail and wholesale at BDO.

Some Bank of England officials believe the consumer slowdown will be offset by higher exports and investment. However, two of the eight sitting monetary policy makers voted last month for a rate hike. A third supporter of a hike has since left the Bank of England.

Reports from retailers themselves have been mixed. On Thursday, Associated British Foods' budget fashion arm Primark reported a strong quarter of trading and last week electricals retailer Dixons Carphone said the consumer environment was holding up.

However, last month sofa retailer DFS Furniture warned on profit.

By James Davey; editor: Mark Potter.

In This Article

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Retail
Analysis and advice from the front lines of the retail transformation.

What a Fashion Company Is Worth Today

In an era of austerity on Wall Street, apparel businesses are more likely to be valued on their profits rather than sales, which usually means lower payouts for founders and investors. That is, if they can find a buyer in the first place.


What’s the Plan at H&M?

The fast fashion giant occupies a shrinking middle ground between Shein and Zara. New CEO Daniel Ervér can lay out the path forward when the company reports quarterly results this week.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional - How to Turn Data Into Meaningful Customer Connections
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional - How to Turn Data Into Meaningful Customer Connections