|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    18th of February 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Economy News feed Economy News

All Financial News feed All Financial News




BRC: Retail sales down 0.6% in June

Bookmark and Share

by Kay Mitchell
”BRC:

Retail sales fell in June as households continue to be squeezed by higher inflation and rising unemployment.

According to the British Retail Consortium (BRC)/KPMG retail sales monitor, sales fell by 0.6% on an underlying basis last month, while total sales (including VAT) rose 1.5%.

Food sales growth eased a little last month but a strong performance was noted in homewares, the report showed.

The poor performance on the High Street comes as well-known retailers, including Habitat, Jane Norman and TJ Hughes, have been forced into administration.

Furthermore, Mothercare, Thorntons and HMV all announced store closures last month.

BRC Director General Stephen Robertson comments: “Given June’s spate of shop-closure announcements and weak company results, these figures are not as bad as they could have been, but it shows just how tough times are… Sales continue to be under huge pressure from the squeeze on disposable incomes produced by rising inflation and low wage growth.”

Finally, according to accountancy firm Ernst & Young, retailers have issued more profit warnings in the first half of this year than throughout the whole of 2010.

Discuss this in the Finance Markets forums

Story link: BRC: Retail sales down 0.6% in June



News posted: July 12, 2011

Financial Services:





Related financial stories to: BRC: Retail sales down 0.6% in June:
Previous: «
Next: »

Visited 2172 times, 2 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Tags: , , ,