July sees highest summer High Street growth in five years
Monday, 9th August 2010 at 10:00 am
BDO reports overall sales growth of 5.2 per cent for medium-sized retailers.
Last month saw the biggest summertime High Street sales growth in the last five years, according to figures from BDO.
The firm's High Street Sales Tracker showed that overall sales growth was 5.2 per cent for medium-sized retailers in July.
Fashion sales were up 5.1 per cent on July 2009 and sales of non fashion goods grew by 6.1 per cent. The latter - which covers health and beauty, gifts and leisure goods - was buoyed by tourists and holidaymakers snapping up make up and gadgets.
The only sector to struggle was homewares, with the growth of furniture and other big ticket purchases just 1.4 per cent.
"Our prediction that trade will remain strong for the rest of the year is borne out in these figures," said Don Williams, head of retail at BDO. "Although macro trends point to a retail slowdown, we are yet to see this reflected on the High Street.
"While the good weather has undeniably been a factor, retailers will be pleased to see that, despite reports to the contraty, confidence among consumers remains high."
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