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News - 8 August 2013

July heat wave provides a boost to retail sales

Retail sales enjoyed their fastest July growth in seven years, thanks to the month's heat wave, according to the British Retail Consortium (BRC).

On a like-for-like basis, the BRC said sales had been up 2.2% compared with last year, as consumers rushed out to buy swimwear, sandals, sun cream, beer and barbecue foods.

July was the third successive month of improving figures, and are the best monthly set since the prolonged heat wave in 2006. Online sales grew 7.9%, which is relatively slow and illustrates the power the weather can have in moving people out from behind their computers and back into the shops.

Tonmoy Kumar, Manager of the Accounts Department of ABDS comments:
“The summer had seen the return of a "feel-good factor", spawned by a series of sporting triumphs, including Andy Murray's Wimbledon victory and the start of the Ashes series, as well as the arrival of the royal baby.”

Food and drink experienced the best sales growth since November 2009, and health and beauty products also saw a jump on the back of higher sales of sun creams and hay-fever remedies.

On the downside, sales of books were significantly lower in July when compared with a year earlier. The BRC said this was largely down to the absence of a blockbuster - last year's figures were boosted by the publication of Fifty Shades of Grey.

If you need any help and advice on SME or the retail industry strategy, contact Lavinia Newman or Peter Ham now to discuss how ABDS can help bring their experience to these matters.

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

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