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London sales up 14.4% in June

Sales across all retail sectors in London soared 14.4% on a like-for-like basis in June with the warm weather and improving consumer confidence helping sales in the capital.

The growth, the strongest since autumn 2006, was achieved despite lower footfall than in May as a result of people watching the World Cup or travelling out of London in the hot weather, according to the British Retail Consortium (BRC)-KPMG London Retail Sales Monitor.

The weakness of the pound continued to attract overseas shoppers, particularly from western Europe, China and the Middle East.

BRC director general Stephen Robertson said: “These are impressive results – the strongest London sales growth since October 2006. The heat and sports events meant fewer people were out shopping in central London, but they were spending more per visit.

“Customers in the capital are less pessimistic than the rest of the UK and significantly less so than this time last year. The weak pound is still attracting tourists. Clearance sales were another major factor. Many were earlier so new season ranges were ready for Middle Eastern visitors before they return home for an earlier Ramadan.

“Economic uncertainty combined with the VAT increase and public sector job cuts on the way, suggest growth of this magnitude is unlikely to continue.”

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