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Financial News: UK Like-For-Like Retail Sales Rise Unexpectedly

UK Like-For-Like Retail Sales Rise Unexpectedly

11/04/2019 - 22:35:00 (RTTNews)

(RTTNews) - UK like-for-like retail sales rose unexpectedly in October, data published by the British Retail Consortium and KPMG showed Tuesday.

Like-for-like sales gained 0.1 percent on a yearly basis in October, while economists had forecast a nil growth. At the same time, total retail sales advanced 0.6 percent on year.

Retailers embarked on an extraordinary period of discounting this October, Helen Dickinson, chief executive at BRC said.

With Brexit still unresolved and a December election creating new uncertainties, retailers will be looking nervously at the months ahead, Dickinson noted.

After several disappointing months, any tiny hints of growth are most welcome, Paul Martin, Partner, UK head of retail, KPMG, said.

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