“It’s largely as we expected for July’s retail data. Low growth, but the industry will be pleased that despite ongoing concerns regarding a slowdown in consumer spending the overall result shows that we are still in positive territory, driven mainly by a good result for food stores following a weaker May and June for them.
Looking more broadly at the retail landscape, it’s a really mixed picture, with cost challenges leading to higher prices for fashion, resulting in a dip in the quantity sold for that part of the sector. Footfall fell a little in July, with online sales again delivering well and making up some of the shortfall. I think we can expect a few more ups and downs in the coming months, as retailers battle the continuing pressures stemming from wider economic developments.”
Euan Murray, relationship director, Barclays