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Financial News: UK Like-For-Like Sales Rise Marginally: BRC

UK Like-For-Like Sales Rise Marginally: BRC

08/05/2019 - 23:07:00 (RTTNews)

(RTTNews) - UK like-for-like retail sales grew marginally in July as pent-up demand released, data from the British Retail Consortium showed Tuesday.

Like-for-like sales rose 0.1 percent year-on-year in July but slower than the expected growth of 0.5 percent. At the same time, overall sales advanced 0.3 percent in July.

The three-month average food sales decreased 0.3 percent, while non-food sales logged a notable fall of 2.1 percent.

The combination of slow real wage growth and Brexit uncertainty has left consumer spending languishing with the 12-month average total sales falling to a new low of just 0.5 percent, Helen Dickinson, Chief Executive, BRC, said.

Whereas last year's glorious sunshine and World Cup Finals led to strong consumer demand over the summer, this year has been weak in comparison, with both June and July showing the lowest sales on record for their respective months, Dickinson noted.

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