Menu
30/07/2003
Retailers boosted by later summer sales, says CBI
The warm weather and a later start to the summer sales gave retailers an "unexpected boost" in July, according to the CBI's latest monthly Distributive Trades Survey published today (Wednesday).
Retailers had expected July to show the same modest sales growth as June but in fact sales grew at the fastest rate since April 2002, the CBI said.
Fifty-four per cent of respondents said sales were up compared with the same month last year – while 27% said they were down. The balance of plus 27% contrasts with plus 10% growth recorded in June.
Sales were also further above average for the time of year than they have been at any time since May 2002. Retailers' expectations for growth over the month ahead were the highest since last December.
Despite greater retail sales, stocks remained at a similar level to June because orders placed on suppliers also increased. Retailers of footwear and leather goods saw the biggest year-on-year increases in sales followed by those selling groceries and durable household goods such as fridges and hi-fi. The biggest annual declines in sales were for specialist foods, furniture and carpets, according to the report.
Doug Godden, CBI Head of Economic Analysis, said: "Retailers have had a surprisingly good July. Warm weather and the later start to the summer sales have particularly helped sales of food and drink and electrical goods. The latest cut in interest rates may also have helped and, more generally, consumer confidence appears to be holding up well."
Motor traders, however, have now seen sales down year-on-year in every one of the last 12 months but there were "signs of improvement".
The rate of decline was much lower than in the spring and, for the third consecutive month, sales fell by less than expected. Only a small drop in sales is expected in August and July sales were only modestly below average for the time of year, said the CBI.
(GMcG)
Retailers had expected July to show the same modest sales growth as June but in fact sales grew at the fastest rate since April 2002, the CBI said.
Fifty-four per cent of respondents said sales were up compared with the same month last year – while 27% said they were down. The balance of plus 27% contrasts with plus 10% growth recorded in June.
Sales were also further above average for the time of year than they have been at any time since May 2002. Retailers' expectations for growth over the month ahead were the highest since last December.
Despite greater retail sales, stocks remained at a similar level to June because orders placed on suppliers also increased. Retailers of footwear and leather goods saw the biggest year-on-year increases in sales followed by those selling groceries and durable household goods such as fridges and hi-fi. The biggest annual declines in sales were for specialist foods, furniture and carpets, according to the report.
Doug Godden, CBI Head of Economic Analysis, said: "Retailers have had a surprisingly good July. Warm weather and the later start to the summer sales have particularly helped sales of food and drink and electrical goods. The latest cut in interest rates may also have helped and, more generally, consumer confidence appears to be holding up well."
Motor traders, however, have now seen sales down year-on-year in every one of the last 12 months but there were "signs of improvement".
The rate of decline was much lower than in the spring and, for the third consecutive month, sales fell by less than expected. Only a small drop in sales is expected in August and July sales were only modestly below average for the time of year, said the CBI.
(GMcG)
Related UK National News Stories
Click here for the latest headlines.
04 May 2005
CBI reports retail sales drop
The volume of retail sales has fallen in the year to April, according to the CBI’s monthly Distributive Trades Survey. The survey found that nearly half of retailers (46%) reported a drop in sales volume, compared to 32% who reported a rise in sales; a balance of -14%, compared with a figure of -9% in last month’s survey.
CBI reports retail sales drop
The volume of retail sales has fallen in the year to April, according to the CBI’s monthly Distributive Trades Survey. The survey found that nearly half of retailers (46%) reported a drop in sales volume, compared to 32% who reported a rise in sales; a balance of -14%, compared with a figure of -9% in last month’s survey.
19 September 2013
NSO Reports Surprise Fall In Retail Sales
The Office for National Statistics have reported a 0.9% fall in retail sales volumes in August, as opposed to 0.4% rise that analysts had predicted. Despite the fall sales volumes were still 2.1% higher than in the same period in 2012, when the Olympics affected spending.
NSO Reports Surprise Fall In Retail Sales
The Office for National Statistics have reported a 0.9% fall in retail sales volumes in August, as opposed to 0.4% rise that analysts had predicted. Despite the fall sales volumes were still 2.1% higher than in the same period in 2012, when the Olympics affected spending.
03 August 2004
Euro 2004 hangover hits retail sales, says CBI
The end of 'Euro 2004' football promotions and the impact of interest rate rises have been blamed by retailers for the unexpected slowdown in sales during July, according to the Confederation of British Industry (CBI).
Euro 2004 hangover hits retail sales, says CBI
The end of 'Euro 2004' football promotions and the impact of interest rate rises have been blamed by retailers for the unexpected slowdown in sales during July, according to the Confederation of British Industry (CBI).
14 August 2013
Scottish Sales 'Outpace UK Sales' In July
The latest SRC-KPMG Scottish Retail Sales Monitor has revealed that Scottish sales outpaced its UK counterpart for the month of July. It is thought Andy Murray's triumph at Wimbledon, as well as the sustained period of hot weather combined to give Scotland's high streets their best performance for two years.
Scottish Sales 'Outpace UK Sales' In July
The latest SRC-KPMG Scottish Retail Sales Monitor has revealed that Scottish sales outpaced its UK counterpart for the month of July. It is thought Andy Murray's triumph at Wimbledon, as well as the sustained period of hot weather combined to give Scotland's high streets their best performance for two years.
29 June 2005
UK retail sales slump continues
UK retail sales suffered the worst fall in 22 years during June, the CBI has reported. According to the report, 42% of retailers said that their sales volumes had dropped over the year to June, while only 23% reported a rise in sales – a balance down 19%, compared with a 7% drop in May and 14% fall in April.
UK retail sales slump continues
UK retail sales suffered the worst fall in 22 years during June, the CBI has reported. According to the report, 42% of retailers said that their sales volumes had dropped over the year to June, while only 23% reported a rise in sales – a balance down 19%, compared with a 7% drop in May and 14% fall in April.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
