The British Retail
Consortium (BRC) released its Like-For-Like Retail Sales report, which measures
changes in the actual value of retail sales from participating companies with
invaluable management information on a regular and reliable basis. For May this
report showed retail sales dropped by 2.7 percent, which is the biggest drop
since 1995.
This drop can be
explained, in part, by the fact that last year the UK saw lots of sunshine
around this period, the World Cup was on and the royal wedding gave everyone
something to cheer about, giving people more incentives to spend. The picture
this year, however, is much different. The outcome of Brexit is still unsure
and economic growth is sluggish. Online sales are also seen to be at an
all-time low at 1.5 percent and sales of non-food items in stores also dropped
by 2.7 percent.
Commenting on the
extreme drop in retail sales, the Chief Executive of BRC, Helen Dickinson said
“with the biggest decline in retail
sales on record, the risk of further job losses and store closures will only
increase.” She also added that “with retail
conditions the toughest they have been for a decade, politicians must act to
support the successful reinvention of our high streets and local communities.”
Disclaimer:
Analysis and opinions provided herein
are intended solely for informational and educational purposes and don't
represent a recommendation or investment advice by TeleTrade. Indiscriminate
reliance on illustrative or informational materials may lead to losses.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.