UK: Focus on BRC retail sales – Nomura

Analysts at Nomura note that following some volatility in sales in UK’s April/May the BRC total values series settled at an annual rate of just over 2% in June, or just over 1% on a like-for-like basis.

Key Quotes

“The July print could be influenced by weather/World Cup distortions though it is by no means clear that the effect will be positive. After all, sales already saw a football-boost in June and the heat may even have reduced spending in some sectors.”