The Courier & Advertiser (Perth and Perthshire Edition)
Scottish retailers record best month since 2014
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.