YEAR-on-year growth in UK retail sales value slowed sharply in October, with the food category failing to show an increase, the latest industry figures have shown.
Retail sales value in October was up just 0.9 per cent on the same month of last year, figures published today by the British Retail Consortium (BRC) show. This marked a sharp deceleration from year-on-year growth in retail sales value of 3.9 per cent in September.
The BRC said that clothing retailers had noted that mid-season sales had been longer and promotions deeper than at the same time last year, with a negative effect on profit margins.
And sales of outerwear such as winter coats were weak last month, with milder weather weighing on demand, the industry body noted.
David McCorquodale, head of accountancy firm and BRC survey sponsor KPMG’s UK retail sector practice, said: “October certainly looks to have slowed on the high street, with many retailers probably feeling more tricked than treated as sales were relatively flat overall.”
BRC chief executive Helen Dickinson said: “October was a somewhat disappointing month overall for retailers, with just 0.9 per cent [year-on-year] growth, slower than the three and 12-month averages.”
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