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Market Commentary

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Weekly Retail & Leisure News - 26​​​​​​​​​​​​​​​​​ October, 2015

Global demand for luxury remains strong​​​​​

The global appetite for luxury remains strong, despite slowing sales growth. The London Luxury Quarter has remained at the forefront of the global luxury retail market. The Quarter's position as a global destination attracts visitors from across the world, with an estimated £4.9bn spend per year. The London Luxury Quarter showcases over two-thirds of the world's top 100 luxury brands. Read more about the rich destination appeal of the Quarter in JLL’s new London Luxury Quarter report.

In a busy week for trading updates, a number of other UK retailers have released encouraging results. Debenhams group's LFL sales rose 2.1% for the 52 weeks to August 29, as it sold more own branded clothes at full price. The retailer also reported a 7.3% increase of its full year profit before tax to £113.5m. Mothercare UK’s LFL sales rose 6.5% in the 13 weeks to October, supported by a 20.4% rise in online sales. "Currency headwinds" prompted global sales to fall 2.8% in the period. Travis Perkins group's LFL sales rose 2.6% in the 13 weeks to September, down from 5.7% from the same period last year. Total group sales grew 5.5% during the same period.

In other news for the retail sector, UK retail sales continue to grow and increased by 6.5% in September year-on-year, the 29th consecutive month, despite average store prices falling by 3.6% according to figures published by the Office for National Statistics (ONS). Falling shop prices, Rugby World Cup promotions, strong wage growth and the warm autumn weather persuaded shoppers to buy 1.9% more goods in September than the previous month.

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