Latest reports by the British Retail Consortium as well as an independent data compilation by the financial services company, KPMG, from most of Britain’s leading retailers, brought happy news. Unexpected higher spending by retail consumers in the month of May has left a comforting after-feel in the UK retail industry.
News from the British Retail Consortium bodes well for UK retail and designer merchandisers. Struggling in the past few months, the news of 3.7 percent growth in March is certainly promising. The same-store sales climbed by roughly 1.9 percent on a year-on-year basis, but still the figure is encouraging. The BRC also noted that February’s growth in total sales amounted to around 4.4 percent and for same-store the rise was approximately 2.7 percent.
The newest data shows data published by the British Retail Consortium (BRC) that 1 in 10 shops in the UK high streets and shopping centers were empty in the month of October. Wraiths of empty stores haunt the UK high streets as retailers face stagnating sales and growing costs as well. The survey released on the 19th of November indicates that the situation is to deteriorate.