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Data Confirms Bounce Back For High Street Retailers
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7th May 2021
New data shows that high street fashion, lifestyle and homeware retailers saw record trading last month, alongside sustained growth of online sales, as consumer confidence was boosted by the easing of lockdown restrictions and progress with the Covid-19 vaccination programme.
According to BDO’s High Street Sales Tracker (HSST), total like-for-like sales, both in-store and non-store, increased sixfold in April, though from a weak base of -29.6% for the equivalent month last year. As non-essential retail reopened after three months of lockdown, all three sectors recorded historic highs, caveated by the severe drought for absolute sales revenues last year.
Summer boom beckons as retail reopens
Fashion retailers predict the store reopening sales surge is set to heat up this summer.
Multiple retailers in England, Wales and Scotland have been encouraged by trade since coronavirus restrictions lifted last month, and many predict a summer “boom” as upcoming staycations, and the further unlocking of events, pubs and restaurants, provide shoppers with a raft of reasons to replenish their wardrobes.
In the first fortnight since non-essential retail reopened on 12 April, clothing retailers in England and Wales reported a surge in sales. Total fashion like-for-like sales jumped 82.4% in the week to 18 April, compared with the preceding week, BDO’s High Street Sales Tracker showed.
By Alec Mattinson2021-04-09T07:55:00+01:00
Top story
The UK retail industry saw the green shoots of recovery in March as sales jumped by more than 40% year-on-year after a COVID-induced collapse a year ago.
According to BDO’s High Street Sales Tracker, total like-for-like sales, combined in-store and online, increased by +42.5% in March, though from a base of -17.9% for the equivalent month last year.
However, BDO warned that the spike in the overall like-for-like result is less likely to reflect a significant increase in profits than how retail shuttered and discretionary spend was curtailed during the same month last year.
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