Growth in high street sales slowed in the year to June, with clothes and accessories acting as the main brake on growth, according to research by the CBI.
Growth in high street sales slowed in the year to June, with clothes and accessories acting as the main brake on growth, according to research by the CBI.
Growth in high street sales slowed in the year to June, with clothes and accessories acting as the main brake on growth, according to research by the CBI.
The organisation's Distributive Trades Survey of 133 businesses showed that sales growth slowed “dramatically” although the rate was still above trend for the year.
Clothes acted as the main drag, with sales falling for the first time since February, while trade at UK grocers was also slower for the second month running.
But sales in the motor trades and wholesale market rose strongly. Both sectors are expected to repeat this performance next month.
Barry Williams, Asda SVP and Chief Merchandising Officer for Food, said: “After a recent improved run for the High Street, a fall in clothing and food sales has contributed to a disappointing month.
“While it seems that hopes that retail spending would be boosted by a strong performance by England at the World Cup were over-ambitious, I’m reassured that consumer confidence is still on the up, as household budgets are being bolstered by falling inflation.”
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