Weekly Retail & Leisure News - 12 September, 2016
LFLs were down 0.9% in August according to the BRC, compared with a 1.1%
increase in July. August’s sales were impacted by slow non-food and fashion
sales, while food sales were boosted by warm weather and the Olympics. Sales of
luxury items such as jewellery and watches were also up, strengthened by
increased tourism and the weakened pound. Total sales were up by 0.6% for the
quarter to the end of August. It is unlikely that August’s slowdown is a direct
result of June’s EU Referendum result, but simply a continuation of the
volatile monthly trading patterns witnessed over the last few years.
In other news, several retailers have announced positive results over the last
week, including Joules, Halfords and Dixons Carphone. Dixons Carphone announced
it has experienced no detectable impact from Brexit, as overall group revenue
rose 9% YoY in the 13 weeks to July 30. Revenue was up 4% on a LFL basis across
all its regions in the UK and Ireland, the Nordics and Southern Europe.
And finally, the F&B sector continues to demonstrate its resilient
qualities. The number of new restaurant openings across the UK rose 5.6% in the
year to June, according to AlixPartners and CGA Peach, with independent, small
to medium multi-site operators particularly active. In addition, several new
concept launches this week highlight the fast moving nature of the sector. IKEA
is launching food workshops, as well as a DIY pop-up restaurant in Shoreditch,
where customers can host a Scandi-inspired brunch, lunch or dinner party. Amazon,
meanwhile, is following in the footsteps of Deliveroo, UberEats and Just Eat,
and has launched a free one-hour restaurant delivery service from more than 180
restaurants in London to its Prime customers.
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Director, Head of Retail Research (UK & EMEA)
+44 (0)20 3147 1155
Director, Head of UK Retail & Leisure
+44 (0)20 7318 7838
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