July proves lucrative for British retailers

RetailME Bureau

For British retailers July 2013 proved to be the most lucrative seventh month since the last six years. According to the British Retail Consortium the total value of retail sales was 3.9% higher last month compared to the same period last year, almost double the growth seen in July 2012 and the best July performance since 2006.

Like-for-like sales, which strip out changes in stores’ floorspace, grew 2.2% last month, the best monthly reading since February. July saw strong growth with summer barbecue ingredients selling particularly well.

“Sales of food and drink rose with consumers celebrating the arrival of the royal baby, Murray’s Wimbledon triumph and the warm delights of summer,” observes David McCorquodale, head of retail at accountancy firm KPMG.