Retail fortunes improved in July | KPMG | UK

Retail fortunes improved in July, according to ONS figures

Retail fortunes improved in July

Commenting on today’s ONS retail sales figures, David McCorquodale, UK head of retail, said:


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“Today’s ONS retail figures echo the findings of the BRC-KPMG Retail Sales Monitor published earlier this month, with retail fortunes having improved in the month of July. Warmer weather drove consumer spending when some may have expected post Brexit blues, but the effect of the EU Referendum vote will take a long time to trickle down to the family purse strings.

“There was a clean sweep of growth across all retail sectors in July, with non-food stores being the biggest contributor to the improvement, followed closely by food. Following disappointing summer fashion sales in previous months, it appears the weather and well-timed promotions finally spurred shoppers to invest in their summer wardrobes, as well as putting picnics and barbeques on the menu.

“After a sluggish month in June, online sales also experienced a much needed boost, with timely e-promotions and the need to make last-minute summery purchases certainly contributing to the improvement. 

“With back to school sales presenting the next opportunity for retailers to woo consumers, eyes will be focussed on future retail results in order to ascertain whether this momentum will be continued.” 



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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 revenue of £1.96 billion in the year ended September 2015. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 174,000 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. 

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