School’s out for summer bargains, says KPMG head of retail

School’s out for summer bargains

David McCorquodale, KPMG head of retail, comments on the latest ONS Retail Sales figures for July 2015.

Also on KPMG.com

Commenting on the latest ONS Retail Sales figures for July 2015 – KPMG head of retail, David McCorquodale said:

“The combination of glorious weather at the beginning of the month, and the start of the school summer break, has resulted in a well-earned boost to the high street with parents keen to get their children decked out and ready for their holidays.

“Grocers continued their struggles in July, with wet weather towards the end of the month meaning that summer lines and barbeque products have stayed firmly on the shelves.

“With summer in-store promotions being slightly delayed and rolling in to July this has proved the perfect time for consumers to go out and bag a bargain, with sales of homeware in particular hitting their peak.  This could be seen as a knock on effect from increased confidence in the housing market, plus steady growth in wages and more disposable income in consumers’ pockets due to further drops in oil prices.

“With Bank of England policy makers predicting that interest rates will hold fast for the short term at least, non-food retailers should be optimistic that this positivity will continue through the summer months.”

 

- ENDS -

 

For media enquiries, please contact:

Angela Pink, Communications Executive

T: +44 (0)207 694 2679

M: +44 (0)7500 100 257

E: angela.pink@kpmg.co.uk

KPMG Press office: +44 (0)207 694 8773

Follow us on twitter: @kpmguk

 

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff.  The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

Connect with us

 

Request for proposal

 

Submit

KPMG’s new-look website

KPMG’s new-look website