- “Weather will play a crucial role in the forthcoming weeks”, says KPMG
David McCorquodale, UK Head of Retail at KPMG, comments on the latest Retail Sales figures from the Office for National Statistics:
“Despite the negative picture painted by the ONS in relation to food, there were some bright spots within the gloom. The fashion sector benefitted from some light relief as the arrival of spring in the last weeks of April drove sales of clothing and shoes in the right direction.
“The weather will play a crucial role in the forthcoming weeks. Retailers need some summer sun to sell their spring and summer ranges, or barbeques and garden furniture will remain hard to shift.
“However, if you look at the long term picture it’s not all doom and gloom. Sales are actually up on the previous year and if summer arrives, we could potentially see retailers post a strong performance on the weaker comparatives recorded last year, when a summer deluge washed away sales in April and June.”
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KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 11,000 partners and staff. The UK firm recorded a turnover of £1.7 billion in the year ended September 2011. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 152 countries and have 145,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.