High street sales up on last year (From Business in Dorset)

High street sales up on last year

8:00am Wednesday 28th July 2010

• Print
• Email
• Share
• Comments(0)

Sales on the high street increased in July compared with a year ago, and surpassed expectations, according to the latest CBI Distributive Trades Survey.

And retailers expect sales growth to continue strongly next month.

The research found that 51 per cent of retailers reported stronger sales than a year ago compared to 18 per cent who said they were lower.

Grocers, clothing, footwear and leather all experienced the strongest growth.

Lai Wah Co, CBI Head of economic analysis, said: “High street sales have performed well this month, with growth better than retailers predicted. Annual summer discounts and warm weather helped lift sales of clothing, while grocers and durable household goods retailers appear to have benefited from a World Cup boost to sales of food, drink and new televisions.

“Retailers are optimistic that strong sales growth will continue next month, which is promising. We still expect the recovery in overall consumer spending to be fairly restrained, however, given concerns about the impact of public spending cuts and weak prospects for real take-home pay in the coming year.”

The July Distributive Trades Survey was conducted between June 23 and July 14 and covered 131 companies.

• Print
• Email
• Share
• Comments(0)