Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

UK fashion retailers' sales slump in September heat - BDO survey

Published 07/10/2016, 02:18
© Reuters. Gucci products are displayed in the window of a store on Old Bond Street in London

LONDON (Reuters) - Britain's fashion retailers endured a slump in sales in September as unseasonably warm weather deterred sales of autumn and winter collections, industry data showed on Friday.

UK high street fashion sales fell 5.9 percent year-on-year in September, according to BDO, the accountancy and business advisory firm.

It said every week in September saw negative year-on-year sales for fashion.

BDO said high street sales across all sectors fell 2.8 percent.

September 2016 tied with September 1946 as the second hottest September since 1910, according to Britain's Met Office.

Several store groups including women's clothing retailer Bonmarche and homewares retailer Dunelm have already blamed the UK's hot September for weak sales.

The data and company updates could have implications for the bigger players in Britain's clothing market, which have already endured unhelpful summer weather patterns, with June a washout.

Concerns have centred on Marks & Spencer and Debenhams.

M&S is not due to publish half-year results until Nov. 8, while Debenhams is scheduled to report full-year results on Oct. 27. Shares in M&S are down 27 percent so far this year, while Debenhams is down 24 percent.

© Reuters. Gucci products are displayed in the window of a store on Old Bond Street in London

The British Retail Consortium will publish its data for September spending on Oct. 11 and official data will be published on Oct. 20.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.