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Press Release

Narrowest London sales lead in nine months

August 17 2009

Retail sales in central London in July were 2.2 per cent higher, on a like-for-like basis, than a year ago, when sales were up 5.8 per cent.

Retail footfall in July fell back below its year-earlier level, hit by the wettest July on record and many clearance sales coming to an end.

Sterling's weakness against the euro continued to attract overseas visitors, especially those from western European countries. Middle Eastern visitors were more numerous, coming before Ramadan.

Food, clothing, footwear and outdoor living slowed as the wet weather turned minds to indoor items such as homewares and furniture.

Stephen Robertson, Director General, British Retail Consortium, said:

"The wettest July on record and the end to many clearance sales help to explain why sales growth is the second lowest this year. Sales of clothing, footwear and outdoor living goods fell as the wet weather led customers to focus on indoor items, such as homewares and furniture. Food sales also slowed after June's heatwave-driven boost.

"Even so, London retail sales still outperformed the rest of the UK – though by the narrowest margin in nine months.

"The pound's weakness against the euro continued to attract visitors from western Europe. There were also more Middle Eastern visitors shopping in the capital before Ramadan. But, like British shoppers, the overseas visitors have become more cautious about spending."

Helen Dickinson, Head of Retail, KPMG, said:

"After a strong performance in the capital in June, July saw retail sales growth of 2.2 per cent like-for-like compared with July 2008. This is much more in line with the national retail trend, with like-for-like sales growth of 1.8 per cent seen across the UK last month. With clearance sales, we perhaps would have expected stronger growth in London given the recent trend in the capital but with many of these starting earlier in June this year, and the weather having taken a turn for the worse, demand may have been satisfied last month rather than in July."



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British Retail Consortium

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