Brexit and COVID-19 Loom Over Sector’s Growth

  • UK retail sales increased by 6.1% in September compared to the same period last year
  • Non-food retail sales rose by 5.2% on a like-for-like basis and 3.2% on a total basis
  • Total retail sales grew by 5.6% in September, up from a decline of 0.6% in the same month last year
  • Brexit and COVID-19 could impact future retail growth
  • Fashion and footwear saw a boost due to ‘Back to School’ activity
  • Home-related items and technology also performed well
  • Online sales remain strong despite slight decrease

UK retail sales experienced a significant increase of 6.1% in September compared to the same period last year, according to BRC-KPMG’s retail sales monitor. Non-food retail sales saw a like-for-like growth of 5.2%, and a total basis growth of 3.2%. Total retail sales rose by 5.6%, contrasting with a decline of 0.6% in September 2019. Despite the positive numbers, KPMG UK head of retail, Paul Martin, advises caution due to potential impacts from Brexit and rising COVID-19 cases. The ‘Back to School’ season positively impacted fashion and footwear sales, while home-related items and technology also performed well. Online sales have slightly decreased but remain a staple in consumer habits.

Factuality Level: 8
Factuality Justification: The article provides accurate information about UK retail sales growth, quotes from a KPMG UK head of retail, and discusses the impact of Brexit and COVID-19 on future retail growth. It also mentions specific categories like fashion, footwear, home-related items, and online sales.
Noise Level: 3
Noise Justification: The article provides relevant information about UK retail sales growth and mentions some specific categories. However, it lacks in-depth analysis or exploration of long-term trends or consequences of decisions on those who bear the risks.
Financial Relevance: Yes
Financial Markets Impacted: UK retail industry
Financial Rating Justification: The article discusses the increase in UK retail sales, which can impact the financial performance of companies within the industry and potentially affect related stocks and investments.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.

Reported publicly: www.retailsector.co.uk