Fashion leads upward trend on High Street
The upward sales momentum experienced at the back-end of last week continued into this week with overall like-for-likes comfortably breaking into positive territory (+4.3%).
Non-fashion: -0.8%. Although sales remained negative, trade continued to move upward, only just failing to beat last year’s positive returns. Luxury stores were the laggards, while leisure and health and beauty performed well.
Fashion: +7.1%. Fashion experienced a very good week, with sales surging by over 7%. New season ranges sold well, despite this week being the low point in the monthly salary cycle, with formalwear the strongest performer.
Homewares: -1.0%.Sales continued to retreat; however, there were some signs that underlying trade did lift week on week, with furniture and textiles the biggest gainers.
Non-Store: +53.2%.Non-store sales rose by a resounding 53.2% as strong sales were reported across most categories.
Don Williams, Head of Retail at BDO LLP commented: “These figures continue to be encouraging for retailers. There was particularly good news for fashion, which saw strong gains in most categories, demonstrating that a successful transition into new season stock is gathering momentum.
In other areas, although takings remained below last year, there were signs of improvement. Homewares and non-fashion saw some evidence of pent-up demand following two weeks of sharply negative figurers. Although weak comparisons boosted performance in many areas, retailers should take heart from this week’s sales.” he concluded.
Sales this week last year
This week last year sales deteriorated with weak demand reported in most areas. Although non-fashion registered modest growth (2.4%) both fashion (-9.4%) and homewares (-33.6%) declined steeply with only a handful of stores bucking this negative trend.
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