Financial News: UK BRC Retail Sales Rise In August

UK BRC Retail Sales Rise In August

09/03/2024 - 09:01:00 (RTTNews)

(RTTNews) - UK retail sales increased in August driven by food sales, data from the British Retail Consortium showed Tuesday.

Total retail sales grew 1.0 percent year-on-year in August but slower than the 4.1 percent increase posted in the same period last year.

Nonetheless, the pace was better than the 3-month average growth of 0.4 percent. Food sales expanded 2.9 percent annually over the three months to August, while non-food sales decreased 1.7 percent.

In-store non-food sales over the three months to August decreased 2.8 percent. By contrast, online non-food sales were up 1.5 percent.

BRC Chief Executive Helen Dickinson said, "Sales growth picked up in August, particularly for food as people came together to host barbecue and picnic gatherings for family and friends, and for summer clothing, health & beauty products as people prepared for trips away and summer social events."

UK Head of Consumer, Retail & Leisure, KPMG Linda Ellett said, "Despite summer finally making an appearance, and a slight uptick in consumer confidence, shoppers did not catch-up their spending during August, with total sales growth of only 1% reflecting the challenging retail environment that is likely to dominate for the rest of this year."

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