Footwear sales drive UK high street sales growth
The leather, footwear and clothing sectors experienced particularly strong sales growth in September, driven by the introduction of new autumn ranges. Furniture also performed well, according to the latest CBI quarterly Distributive Trades Survey.
Sales on the UK’s high street were higher than a year ago in September, representing the third consecutive year-on-year increase and surpassing expectations.
The majority of retailers surveyed (60%) said that the volume of sales rose during September, while 11% said that it fell, giving a balance of +49%. This was the highest balance since May 2004 (+51%).
Ian McCafferty, CBI chief economic advisor, said: “High street sales have performed well again this month, with growth better than retailers predicted. The bank holiday weekend, combined with the tail-end of summer sales have resulted in a bumper period for retailers. Clothing and footwear sales in particular look to have been boosted by the launch of new autumn ranges.
“Retailers expect sales growth to continue next month and, as we get closer to January, sales will be helped by households seeking to beat the VAT rise. However, weak prospects for take-home pay mean that consumer spending is likely to be fairly restrained in 2011.”
