 Many stores have introduced sales earlier than usual this summer |
Shoppers are still proving reluctant to spend their cash on the High Street, a survey has found, although the recent warm weather has brought some cheer. The British Retail Consortium made another call for a cut in rates after revealing like-for-like sales in June dropped by 0.5%, after May's 2.4% fall.
It put the slowing decline down to June's fine weather helping sales of summer lines, and numerous discounts.
Like-for-like sales for April to June were down 2.4% on a year previously.
This compared with a 1.5% drop between March and May.
Total June sales - which include new store openings - rose by 3.5%. The BRC called on the Bank of England's rate-setting Monetary Policy Committee to cut interest rates when it meets later this week.
Tough trading
"While the fine weather in late June was welcomed and did help some stores, the underlying three month trend has deteriorated further," said BRC director general Kevin Hawkins.
"Retailers cannot rely on good weather to bring in customers.
"There is an urgent need for an early cut in interest rates to prevent a continued decline, especially as it will take several months for a reduction to have any effect."
The BRC's survey is just the latest to warn about the condition of the retail sector.
Business organisation the CBI said last month that the UK High Street had seen the biggest drop in sales in 22 years.
Retailers such as French Connection, Matalan, Marks & Spencer and Boots have also recently warned about tough trading.
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There is an urgent need for an early cut in interest rates to prevent a continued decline
