Retailers benefit from resilient consumer demand

Retail spending continues to defy poor consumer confidence as the British Retail Consortium reported relatively robust high street spending in February. Higher prices have seen the volume of goods sold decrease slightly but the value of monthly sales increased by 6.7%, considerably above the 12-month average of 2.4%. Landlord Hammerson said footfall in its shopping centres is back to 90% of pre-Covid levels.

Hammerson said the outlook remains mixed, however. It expects its best locations with premium brands to remain busy but said other locations are starting to see the first signs of cooling. The mixed picture is reflected by businesses with significant high street operations. Greggs said its revenue and profits increased, despite rising costs, and announced plans for another 150 outlets. Next and Primark owner Associated British Foods have recently reported strong trading. However, some retailers are expected to struggle as the rising cost of living erodes disposable income and online retailers have seen sales decline.

For the following stories, please click on this link*

  • UK – Strength of the jobs market ins one of the key drivers of Central Bank rate decisions.
  • Interest Rates – Central Bankers stick to the script
  • UK – Government looks to ease worker shortage as hiring declines.

(*Please note, The contents of this e-shot been prepared for general information only. It does not contain all of the information which an investor may require in order to make an investment decision. If you are unsure whether this is a suitable investment you should speak to your financial adviser. This information is not guaranteed to be correct, complete, or accurate. FE Research is a division of Financial Express Investments Ltd, registration number 03110696, which is authorised and regulated by the Financial Conduct Authority (FRN 209967). For our full disclaimer please visit www.financialexpress.net/uk/disclaimer. Data Sourced from FE Analytics, and Bloomberg Finance LP.)

Recommended Posts