BRC: Hot weather boosts July sales but shop closures and job losses on horizon

Responding to the latest ONS Retail Sales Index figures, which showed sales up 2.7% by value, and up 1.3% by volume, Dr Kris Hamer, Director of Insight at the British Retail Consortium, said:

“July was a good month for retail sales, as the warm, sunny weather and packed sporting schedule in the first half of the month got people spending, especially for alcoholic beverages as people came together. Fashion also sold well as people made purchases for their summer holidays, and furniture sales were up after being in decline in previous years.

“Unfortunately, this level of sales growth makes little dent on the £7bn of new costs that retailers are having to shoulder following last year's Budget. With a date now sent for the next Budget, government must ensure that no additional tax is levied onto retailers, or else many will be forced to make difficult decisions around raising prices, store closures, and jobs.”

-ENDS-  

Notes:

According to the ONS, on a Year-on-year seasonally adjusted basis:  

• Sales by Value (amount spent) increased 2.7% YoY
• Sales by Volume (quantity bought) increased 1.3% YoY