August 26, 2020
For Great Britain, retail sales volumes for July 2020 rose by 3.6% relative to June 2020, and are 3.0% above pre-pandemic levels in February 2020, according to the Office of National Statistics. Moreover, retail sales value increased by 4.4% over the month and 1.7% when compared to February 2020.
Food store sales and non-store retailing volumes, in July, stood at high sales levels, regardless of monthly contractions in these sectors at -3.1% and -2.1%, respectively.
In July, fuel sales started to rebound from low sales but were still 11.7% lower than in February. Besides, recent research shows that the car traffic in July was about 17% lower than in the first week of February, according to data from the Department of Transport.
Clothing store revenues were the hardest affected during the pandemic, and in July, revenues remained 25.7% lower than in February, in spite of a monthly rise of 11.9% in July 2020.
There was a 7% decline in online retail sales in July in comparison to June. However, over the pandemic, there was also strong growth, which indicated that sales are still 50.4% greater than February’s pre-pandemic levels. Moreover, ONS noted that, “all sectors saw a decrease on the month, with large falls in non-food stores. This resulted in a lower proportion of money spent online at 28.9% in July than June at 31.9% but was still much higher than February 2020 at 20.0%.”
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.