BDO news and archive

Fashion contributes to moderate UK retail growth ahead of golden quarter

The UK retail sector recorded a moderate but positive performance in September, with total like-for-like (LFL) sales across discretionary categories – including fashion, homewares, and lifestyle – growing by +3.1%. This growth comes ahead of the critical 'Golden Quarter' trading period, offering a cautiously optimistic outlook despite a strong...

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Retail

December sales boost fails to save UK retail’s “Golden Quarter”

Christmas fails to save 2024 trading, as new data from the British Retail Consortium (BRC) and KPMG International reveals that UK total retail sales for the year increased by just 0.7 percent from 2023, while non-food declined by 1.5 percent. For the three months to December, known as the “Golden Quarter,” sales growth was 0.4 percent...

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Business

UK: Retail sales drop in November despite discounting

Total retail sales in discretionary spend categories fell by -5.8 percent in November in the UK, according to BDO’s latest High Street Sales Tracker. Sales performance was particularly poor online, with sales down -7.8 percent. In store sales fell by 5.5 percent, with the fashion sector recording figures of -8.0 percent compared to November...

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Retailers witness six months of negative sales

Total in-store and online sales fell 2.2 percent in March, marking the sixth consecutive month of negative sales results, according to new data from BDO’s High Street Sales Tracker. According to BDO data, the last six months mark the longest consecutive period of negative growth outside of the Covid-19 pandemic. In-store sales were down 1.8...

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UK's retail sector witnesses fifth month of negative sales in February

Total in-store and online sales fell 1.3 percent in February, marking the fifth consecutive month of negative sales results, according to new data from BDO’s High Street Sales Tracker. BDO research found that the fashion and homewares sectors both performed very poorly, with like-for-like sales declining 4.8 percent and 4.1 percent respectively....

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UK's retail sector witnesses fourth consecutive month of negative sales

Total like-for-like retail sales fell 0.8 percent in January across discretionary spend categories, according to new data from accountancy and business advisory firm BDO’s High Street Sales Tracker. This marks the fourth successive negative sales performance since October 2023 after a poor performance for retail’s crucial ‘golden quarter’....

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Retail

Inflation bites into UK's post pandemic retail recovery

New data tracking the UK’s retail sales shows the high street is at its lowest growth since the pandemic. Figures from BDO’s High Street Sales Tracker show like for like sales increased by 8.4 percent in June, the lowest since February 2021. Footfall was down 10.5 percent in June compared to three years previously, with soaring inflation,...

Retail

Fashion segment fuels UK sales growth in March, footfall gradually improves

The fashion segment was the standout performer in the UK last month as consumers continued to splash out on new outfits post lockdown. Fashion total like-for-like sales increased by 87 percent last month from a base of 57.5 percent the same month a year earlier. It was the only category to record positive non-store like-for-like sales in March....

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High streets suffer worst September since 2011 as Brexit looms

UK high streets have suffered their worst September in eight years due to Brexit uncertainty, store closures, falling footfall and wet weather. According to the latest High Street Sales Tracker by advisory firm BDO LLP, total in-store like-for-likes fell by 3.1 percent this month from an already negative base of -2.7 percent for September last...

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Fashion sales suffer in February despite warmer weather

Warm weather and Valentine’s Day did little to boost fashion sales in February, according to BDO’s latest High Street Sales Tracker. In-store like-for-like fashion sales declined by 3.5 percent in February from an already-poor base of -1.9 percent last year. Overall in-store sales declined 3.7 percent, following a 1.6 percent drop in the same...

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Retail

BDO: 54 percent of brick and mortar retailers say they are merely surviving

Yesterday the National Retail Federation forecasted retail sales to grow between 3.8 and 4.4 percent in 2019. “The underlying state of the economy is sound”, said NRF’s president Matthew Shay in a statement. But today a BDO survey of 300 CEOs, CFOs and COOs from Retail & Consumer Products companies with revenues ranging from 50 million to 3...

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Management

UK high street sees worst half year in a decade

The high street has experienced the worst first half to a year in more than a decade, as sales dropped for a fifth consecutive month, according to the BDO High Street Sales Tracker. Retail sales fell 1.7 percent in June according to the Tracker, marking the first time in 12 years that in-store growth had not seen growth over 1 percent for six...