Sunshine gives retail a boost, but will it last?

July 21st, 2009

Everyone feels better when the sun shines and the good weather during June certainly seems to have brought the shoppers out onto the High Street. According to BRC/KPMG’s London Retail Sales Monitor, like for like retail sales in London rose in June by 4.7%, with increased footfall in London over the same period last year. No doubt, many of these shoppers were tourists benefitting from the weak pound.

However, most pundits (just like the weathermen) aren’t hopeful that the upturn will last. As the July weather turns to rain so does the prospects of a full recovery for the fashion retail sector. A survey reported in Drapers and Retail Week yesterday reported that most retailers were not anticipating a recovery until 2011.