SUNNY OUTLOOK FOR RETAIL SALES

Soaring temperatures and well timed sales have given the high street a much-needed boost, new figures have revealed.

In its latest distributive trade survey, which was conducted between 26 June and 16 July, the Confederation of British Industry (CBI) said that the high street experienced its best month since January in July.

Some 43 per cent of firms said that sales were up on a year earlier, while just 17 per cent said they were down. The resulting balance of plus 17 per cent was slightly above expectations of plus 13 per cent.

Of those quizzed, 34 per cent placed more orders with suppliers than they did 12 months ago and 37 per cent below, resulting in a balance of plus seven per cent.

Stephen Gifford, CBI director of economics, stated, “The feel-good factor from the heatwave and early summer sales has helped boost high street sales, after a very weak start to the year.

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