The Courier & Advertiser (Angus and Dundee)
Scottish retailers record best month since 2014
Stores: New Look falls out of fashion while Boohoo sales soar
Scottish retailers had their best sales in more than four years last month, according to a new report
The Scottish Retail Consortium said sales increased by 1.8% on a like-for-like basis compared to May last year.
Total food sales in May increased 4.2% and non-food sales rose by 1.4% compared to last year.
The performance is the best since January 2014, excluding Easter distortions.
David Lonsdale, director of the Scottish Retail Consortium, said: “Clearly one swallow doesn’t make a summer but May’s positive figures are a balm for hard-pressed retailers.
“The figures show consumers shifting their attention to spending time outdoors which, when combined with a release of pent up demand, saw a broadly based pick up in retail sales over the month.
“As a result, total retail sales, adjusted for falling shop prices, recorded their best monthly performance in almost four and a half years.
“Sales of garden furniture, barbecues, and summer-related clothing, footwear and food performed well, as did gaming and televisions, driven by demand for new titles and upcoming sporting events.”
It was a mixed picture for retailers releasing results yesterday.
Fashion chain New Look swung to a full-year loss amid plunging sales on the high street and online.
It reported an operating loss of £74.3 million for the year to March 24, having made £97.6m profit in the previous year.
New Look’s sales in the UK fell by 11.7% on a like-for-like basis, accelerating from a decline of 6.8% the year before. Website sales slumped by 19.2%.
Total revenue was £1.34 billion, down from £1.45bn year on year.
The business was hit with a £34.2m one-off cost, which included an exceptional charge from stock clearances.
New Look launched a restructuring plan in March, announcing it would shut 60 stores as part of a Company Voluntary Agreement.
The company said yesterday the CVA would allow the business to save £4m.
Meanwhile, fashion website Boohoo reported soaring sales in the first quarter as it pushed ahead with its ambitious expansion plans.
Group sales at the online fashion retailer jumped 53% to £183.6m.