Ian Geddes comments on today’s ONS retail sales figures has been saved
Ian Geddes comments on today’s ONS retail sales figures
23 July 2015
Commenting on today’s ONS retail sales figures, Ian Geddes, UK head of retail at Deloitte, said:
“This is difficult data to read due to the marked contrast between month-on-month, down 0.2% and year-on-year performance, up 4%. What is clear is that the market slowed in June 2015, albeit against a strong year-on-year comparative. But this is still a good performance.
“If we look at the picture by sector the situation becomes clearer. The food sector was flat, although there was growth for the larger retailers showing that the grocery sector is recovering. The clothing sector performed strongly, with an increase in both the amount spent and quantity of goods bought.
“However, prices fell as many retailers found themselves going on sale at the point at which the weather started to improve. Those that held their nerve were rewarded by growth in profits as well as revenue. A strong performance from online also showed that there is still healthy demand from consumers, with double-digit growth in sales. Those who lost out were the household goods and petrol station retailers.”
Notes to editors
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
Member of Deloitte Touche Tohmatsu Limited.