BDO: High Street sees June growth - Licensing.biz

BDO: High Street sees June growth

World Cup and the good weather had an affect, but like for likes still up by four per cent.
Author:
Publish date:
1_184_5733_Oxford Street pic.jpg

Spending growth across the High Street remained upbeat during June despite distractions from the football and the good weather. Overall, retailers reported like-for-like sales four per cent higher, according to the June High Street Sales Tracker from BDO.

Fashion like-for-likes rose by 3.9 per cent. Summer clearance promotions helped supplement positive trends, with footwear and youth ranges selling strongly. In other areas trade was more subdued.

Non-fashion like-for likes increased by 2.1 per cent. Trade was varied in June with health and beauty and leisure performing below average, offset by solid gains from some luxury stores.

Meanwhile, homeware like-for-like jumped by 9.5 per cent. Set against weak comparisons this time last year (-5.6%), sales were particularly strong at the start and the end of the month.

The good run across non-store channels and online continued with the vast majority of stores recording double-digit growth. The overall gain was 40.4 per cent on the same time last year.

Don Williams, head of retail at BDO, commented:
“Consumer spending was undeniably affected by the World Cup, especially on the days when England played. However, overall sales in June held up well with gains made before the start of the tournament.

"We anticipate that trade will remain reasonably strong for the remainder of the year as the widely-anticipated VAT increase has now been deferred until 2011.”

Related

Featured Jobs