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Free AccessMNI DATA ANALYSIS: Aug UK Shop Sales Lowest In Four Months
--BRC July Like-for-Like Sales Up 0.2% y/y; Total Sales Up 1.3%
LONDON (MNI) - UK retail sales grew for a fourth consecutive month in
August after April's record decline, however the pace of year-on-year expansion
continued to ease from May's 4.1%. The British Retail Consortium (BRC)-KPMG
survey showed growth was driven by the remnants of summer sunshine, which
continued to feed grocery sales. A "back-to-school" effect also boosted sales of
children's clothes and computers.
August like-for-like sales rose by 0.2% from August 2017, when they had
increased by 1.3% y/y. Total sales growth of 1.3% was below the 3-month and
12-month averages of 1.8% y/y and 1.5% y/y respectively.
--WEATHER AND INFLATION DROVE MODERATE FOOD GROWTH
August weather combined with inflation in food prices to see food sales
growth continue its run, ranking it second in total sales growth. On the
discretionary side, home and large ticket items made a comeback but their
ranking was low -implying that, on a total basis, growth was constrained.
Topping the total sales ranking was computing, which the report attributed to
the end of school holidays.
--NON-FOOD STORES CONTINUES TO DECLINE MODERATELY
Non-food store sales saw a continued tempering of the pace of decline. Over
the three months to August, they decreased by 1.0% on a like-for-like basis and
by 0.1% on a total basis. This was higher than the 12-month total average
decrease of 0.4%.
--CONSUMERS AND RETAILERS FEELING THE PINCH
Whilst summer is coming to an end, the pressure on shoppers' incomes is far
from over.
"The continued pressure on people's disposable income has meant that some
shoppers are increasingly less able to spend on the more discretionary non-food
items such as clothing and footwear," said Helen Dickinson, chief executive of
the British Retail Consortium. "And it's not only shoppers who are feeling the
pinch. Retailers are under significant pressure, with rising costs contributing
to a difficult trading environment. The disproportionate burden of business
rates is not helping matters."
At the same time, retailers are struggling to keep pace with a changing
competitive landscape.
"Overall retail spending held up in August, but only just. Whilst any
growth is welcome in the current environment, structural changes within the
industry continue and there is clearly diverging performance across categories
and retail business models. Retailers really need to drive their repositioning,
restructuring and transformation programmes with ever increasing energy and
urgency", said Don Williams, UK retail partner at KPMG.
--MNI London Bureau; +44 203 865 3828; email: jai.lakhani@marketnews.com
--MNI London Bureau; +44208-865-3829; email: Jason.Webb@marketnews.com
[TOPICS: MABDS$,M$B$$$,M$E$$$,MT$$$$]
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.