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U.K. Retail Sales Fall to Near Six Year Low

U.K. retail sales fell to the lowest levels last month since December 2008, as food sales continued to decline and clothing and footwear sales hit record lows, according to widely followed report.

In a monthly joint report, the British Retail Consortium (BRC) and KPMG noted that a very warm summer had resulted in exceptionally low demand for “winter” items such as boots and coats in September. This led to the lowest monthly fashion sales since April 2012.

Retail sales last month were down 2.1 percent on a like-for-like basis from September last year, when they increased 0.7 percent on 2012 levels.  “The prolonged Indian summer wilted retail sales in September, leaving clothing retailers hot under the collar. Selling woolly jumpers in warm weather is a tough ask, even for the most talented of sales staff,” David McCorquodale, head of retail at KPMG, said in the report.

CNBC [1]

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