May retail sales disappoint
May was not a good retail sales month according to the latest BRC-KPMG retail sales monitor report. Sales had fallen by 2.7 per cent for the 4 weeks ended May 25th when measured against last year. Like for like sales were down by 3 per cent, against an increase of 2.8 per cent for the same period in 2018. This, the report concludes, is the greatest like-for-like sales decline since December 2008.
Online sales for on-food products rose by just 1.5 per cent pointing to an overall slowing of online sales growth and the need for all retailers to improve their performance across all channels. Many suggest that the next six months would be the last for some retailers.