The Trader 

Market Outlook: UK retail sales’ biggest slump in 10 years

The Trader

British retailers quizzed by the Confederation of British Industry in June had 58 per cent saying sales volumes dropped as compared to this time last year; 16 per cent claimed sales had increased, thus giving a reading of -42. Far lower than any estimate, lower than May’s -27, and the lowest reading by far bar December 2008’s -55. Non-store retailers, such as internet and catalogue, saw an increase in sales volume this June. Over at UK supermarkets, the trend continues, with Asda, Morrisons and Sainsbury’ losing a little market share, Tesco and Waitrose’s proportion flat to June 16th, Coop up 3 per cent, and the German discounters showing sales growth of 7.5 and 9.3 per cent.

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