UK fashion retailers suffer 8-year low in July
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UK fashion retailers suffered an eight year low in July as consumers think twice about spending on non-essential items.
According to accountancy firm BDO's monthly High Street Tracker, sales of fashion saw its worst comparable month since 2009. The company cited wetter weather and an exodus for school holidays at the end of the month affect footfall, with less shoppers frequenting stores.
While homeware performed well, as did lifestyle brands, it was a tough month for fashion, taking total in-store stales into the negative, down -3.5 percent from a base of -1 percent for the same month last year. It's worst July for eight years, it was also the second worst result for the year to date.
In a month associated with discounting, retailers will be concerned that like-for-likes were negative in every week of July.
From the positive result seen in June, the deterioration of the weather hit footfall and fashion sales hard, particularly towards the end of the month.
Photo credit: BDO High Street Tracker graph, source BDO website