It’s been a disappointing end to the retail year as Omicron devastated any hopes that November’s positive expectations would accelerate. That’s the unsurprisingly bleak reading from the latest CBI monthly survey.
Hard-pressed fashion retailers awaiting government plans for a major shake-up in business rates will have to wait. A call from 40 trade associations for the overhaul to be included in upcoming Budget have been dashed.
Hopes that strong retail sales in the summer would continue into early autumn seem to have been dashed — at least that’s the case according to the earliest of the monthly retail sales reports to come out.
First the good news. UK retail sales grew at the sharpest pace since December 2014 in the year to August and orders growth hit a survey record high, according to the latest CBI quarterly Distributive Trades Survey.
UK retail sales continued to grow at a rate well above the long-run average in the year to July, but clothing and footwear stores are yet to see demand recover to usual levels, the CBI’s latest survey has showed.
First the bad news. Clothing sales for June were “poor for the time of year”, according to the latest Confederation of British Industry (CBI) survey. What’s more, growth in online sales slowed sharply this month.
The Milan fashion and accessories show will return in phygital format with the WSM event on June 19-21, and is set to welcome back its participants in person on September 23-26 in the city’s Tortona Fashion District.