Jewellery and watch sales grow in May
Register to get 1 more free article
Reveal the article below by registering for our email newsletter.
Want unlimited access? View Plans
Already have an account? Sign in
Jewellery and watch sales grew in May in a month that brought ‘better news’ for UK retailers, according to new research.
The latest Retail Sales Monitor from the British Retail Consortium (BRC) and KPMG found jewellery and watches to be third best performing sector, out of 12, in terms of total sales. It was up from eighth in the same month last year and slightly improved on its 12-month average of fourth.
Overall, UK retail sales increased by 0.5% on a like-for-like basis from May 2015, when they had remained flat from the preceding year. On a total basis, sales rose 1.4%, against a 1.1% increase in May 2015.
On a three-month basis, total non-food sales rose 0.6%, which was still below the 12-month average of 2.5%.
Helen Dickinson, chief executive at the BRC, said: “Today’s figures bring better news for the UK’s retailers. After two months of flat sales May saw growth of 1.4%. While still not spectacular, it is in line with the 12-month average of 1.5%.
“While this month’s pick-up in sales will come as a welcome relief, it’s still a challenging time for retailers. Shop price deflation continues and intensity of competition is fierce. Controlling costs and improving efficiency and productivity will be crucial for retailers as they continue to navigate increasingly tough trading conditions.”
