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UK Retail Sales Decline In August- BRC

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UK's retail sales value on a like-for-like basis dropped 0.1% year-on-year in August, the British Retail Consortium said on Tuesday. In July, sales grew 1.8%.

On a total basis, retail sales increased 2.2% annually in August, faster than the 1.4% growth seen a year ago.

Food sales increased more than non-food sales, while clothing and footwear sales weakened. Homewares and furniture sales dropped from their year-earlier levels, the BRC said, after July's weather-and clearance-driven growth.

In August, non-food non-store sales, which includes internet, mail-order and phone sales, increased 7.9% annually, the weakest performance since May.

During the June to August period, like-for-like retail sales climbed 1.1% compared to the same period of the previous year. Food sales increased 3.8%, while non-food sales dipped 0.7%.

During the period, total retail sales increased 3%, with food and non-food sales rising 5.3% and 1.4%, respectively.

Stephen Robertson, Director General of the British Retail Consortium, said, "The stronger figures of June and July haven't been sustained. It's clear the deceptively good sales growth of those months was due to summer sun and price cuts - not any major revival in how customers are feeling."

"As we head into autumn, we mustn't make too much of any positive sales growth because the comparison will be with very weak figures a year ago when total sales growth dipped below zero," he warned.

UK's retail sales value on a like-for-like basis dropped 0.1% year-on-year in August, the British Retail Consortium said on Tuesday. In July, sales grew 1.8%. (Market News Provided by RTTNews)

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