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July retail sales growth at seven-year high
July retail sales have increased at the fastest pace since 2006.
New figures from the British Retail Consortium show there was a 3.9 per cent rise in trade last month, compared to two per cent in July 2012.
Meanwhile, sales values were up by 2.2 per cent on last year, when they had grown by just 0.1 per cent.
Jonathan Flynn of Odgers Interim welcomed this news.
"These are very encouraging figures particularly when you compare the current economic climate against the consumer credit boom time of the mid noughties," he commented.
"The positive figures in sales have come at a time when there has been increased activity in the retail interim market with a marked increase in the number of new opportunities in the sector (all focussing on commercial growth as opposed to cost cutting or restructuring).
"The extended period of good weather has driven sales in barbeque related food and general merchandise and the feel good factor of Wimbledon and royal arrivals has done much to enhance consumer confidence.
"Clothing has also fared well with many of the fashion businesses I have met with recently reporting very encouraging results and in one case triple-digit growth. Retailers will be looking to their Autumn ranges now but with no major sporting events and the weather sure to deteriorate they need to capitalise on the current consumer confidence to ensure a strong run into the Christmas trading period."
Odgers Interim are UK leaders in Interim Management solutions for the Commercial Sector. We have offices in London, Birmingham, Leeds, Manchester, Glasgow, Aberdeen and Cardiff as well as over 50 offices globally. We are the only Interim Management providers who are part of a top tier international executive search firm. We work closely with our executive search colleagues to find candidates who can offer short term solutions with long term benefits. www.odgersinterim.com