Fears over falling sales as World Cup euphoria fades

Malcolm Hyde, CBI South East regional director
Malcolm Hyde, CBI South East regional director

WARM weather and the World Cup helped retail sales continue to grow well in July, according to the CBI.

The latest Distributive Trades Survey conducted by the employers’ organisation found that food & drink and electrical goods retailers enjoyed brisk sales growth over the first half of the month. However, DIY, furniture and carpet stores were among sectors that fared less well.

The mixed picture meant that, overall, 44 per cent of retailers said sales were up on a year ago while 37 per cent said they were down.

But despite the effect of the World Cup and the fine weather sales figures in July remained below retailers’ expectations for the time of year.

Malcolm Hyde, CBI South East regional director, said: "Retailers have had an encouraging four months of consecutive growth and it is pleasing that, despite England’s quarter final exit, the World Cup continued to boost the high street over the first half of July.

"But as World Cup euphoria fades so may sales, with retailers expecting sales growth to moderate in August."

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