UK retail sales rally slightly in April
New figures from the Office of National Statistics have revealed that UK retail sales lifted slightly in April, reversing the decline that was witnessed in March.
As the High Street suffers store closures, troubled UK retail veterans and more, the news has provided a glimmer of hope for the sector. Key highlights of the ONS report include:
- In April 2018, the quantity of goods bought in the retail industry remained relatively flat with a slight increase of 0.1% in the three-month on three-month movement.
- When compared with March 2018, the quantity bought in April increased by 1.6% as all sectors, excluding department stores, recovered from the declines seen in March.
- Department stores showed a different monthly picture to all other sectors as the only sector to report a fall in quantities bought, at negative 0.9% in April following strong online sales in March.
- Petrol sales reported the largest recovery in April, with a growth of 4.7% compared with a decline of negative 6.9% in the previous month as road closures affected travel in March.
- Removing the monthly volatility, the combined two months of March and April compared with the same periods a year earlier showed a general slowdown to growth at 1.3% for March and April 2018 when compared with 2.9% for March and April 2017.
- Online sales as a proportion of all retailing continued to grow year-on-year at 17.3% in April 2018, in comparison with 16.1% in April 2017; with food and clothing stores achieving record online proportions.
Commenting on the figures, Rob Kent-Smith, Head of National Accounts at the ONS said: “Retail sales bounced back in April, as petrol and other sales recovered from the snowfall. But the underlying position remains subdued with the volume of goods sold over the last six months broadly unchanged.
“Increases were seen across all sectors in April, except department stores. Department stores declined following relatively strong sales last month, when their online sales were boosted during the adverse weather.
“Over the longer-term, retail sales growth has slowed considerably, with increases in food, household goods and internet retailers being largely offset by declines across all other types of retailing.”