Mixed picture for retail sector, CBI finds

Retail sales were broadly flat in the year to July despite three months of sharp declines, according to the monthly Distributive Trades Survey published by the Confederation of British Industry (CBI).

However, the improvement was primarily driven by stronger grocery sales, with non-essential retailers continuing to struggle despite the easing of lockdown restrictions.

Alongside higher grocery volumes, sales of hardware and DIY products, other normal goods (including cards, flowers, stationary) returned to growth in the year to July.

Other retailers, including clothing, footwear and department stores, continued to report significant declines as a result of the coronavirus (COVID-19) pandemic. In some cases, falls were less severe than in recent months.

Overall, the CBI expects sales to dip slightly in the year to August.

Commenting on the figures, Rain Newton-Smith, Chief Economist at the CBI, said: 'It's great to see retail sales stabilise this month, but this doesn't tell the whole story. This crisis has created winners and losers within the retail sector and for some businesses the picture remains bleak.

'The re-opening of non-essential retail was a vital step towards recovery but isn't a cure-all. The government has provided critical support for firms and jobs throughout the crisis. But ongoing financial pressures are a major challenge for some retailers, and additional direct support to shore up cashflow, such as extension of business rates relief, should be considered.'

Latest News

020 3926 4111

J.D. Bregman & Co. Ltd
First Floor
Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX


Home | Contact us | Site map | Accessibility | Disclaimer | Help |

© 2021 J.D. Bregman & Co. Ltd. All rights reserved.

We use cookies on this website, you can find more information about cookies here.

The Provision of Services Regulations 2009
We are registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales/Association of Chartered Certified Accountants. Details of our audit registration can be viewed at www.auditregister.org.uk under reference number C002869433

Our professional indemnity insurer is QBE European Operations of Plantation Place, 30 Fenchurch St, Billingsgate, London EC3M 3BD. The territorial coverage is worldwide excluding professional business carried out from an office in the United States of America or Canada and excludes any action for a claim brought in any court in the United States or Canada.