Retailers expect sales to pick up next month, after stagnant volumes in the 12 months to June, according to the CBI’s latest monthly Distributive Trades Survey.
The survey of 115 firms, which was conducted between 29 May and 13 June, revealed that flat retail sales volumes in the year to June disappointed retailers’ hopes of modest growth. However it was better than the year-on-year fall in sales seen last month, which was the first decline since April 2012.
Sales volumes were a fair way below average for the time of year in June, despite expectations they would be broadly in line with seasonal norms; whilst stock adequacy picked up on last month, in line with its long-run average. The outlook is a little brighter for next month, when retailers expect sales volumes to increase.
Barry Williams, Asda chief merchandising officer for food, commented:“Despite an improvement in British weather conditions, retailers will be disappointed they didn’t see the return to growth they expected in June – but the forecast is looking good for July when it’s hoped retail sales will return to form.”