Retailers cash in on warm weather as shoppers snap up more summer clothes
RETAILERS have been cashing in on the warm weather as shoppers snap up more summer clothes.
Sales volumes grew by 0.3 per cent last month instead of falling by an expected 0.2 per cent.
The surprise rise was reflected in figures from the Office for National Statistics.
ONS senior statistician Heather Bovill said: “Online shops did particularly well selling outdoor goods and summer clothes, as the sun began to shine.
“Garden centres and DIY stores saw growth, as good weather encouraged people to start home and garden improvements.”
Cheaper petrol and diesel prices helped increase sales volumes as drivers found motoring a little more affordable.
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Fuel costs reached their lowest point since early 2022 last month.
But, while fuel sales rose 1.7 per cent in May, that was still 9.5 per cent below pre-Covid levels.
Food sales volumes dropped again last month, falling by 0.5 per cent as shoppers spent more but got much less.
Compared with pre-pandemic 2019, shoppers bought about 3.3 per cent less food but paid almost a fifth more for it.
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Danni Hewson, AJ Bell head of financial analysis, said: “Cost pressures were evident everywhere and people were selective with their spending.”
Chocolat melts
A SECOND profit warning in two months has sent shares in Hotel Chocolat plunging 16 per cent.
The posh chocolate brand blamed it on “weakness in consumer sentiment and inflationary pressures”.
But it said it was on a mission to “reshape the business”.
It warned it could post a loss for the year.
Yah boo sucks
BATTLING cosmetics brand Revolution Beauty hit back at major shareholder Boohoo yesterday by revealing a 60 per cent sales jump.
Revolution boss Bob Holt said: “The excellent performance is testament to the strength of our leadership team.”
Boohoo wants to put its own people into the business.