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Evening Standard
Evening Standard
Business
City Staff

FTSE 100 Live: Retail sales get heatwave boost, Nvidia warning

Retail sales increased by 1.6% on a like-for-like basis in July after the heatwave boosted demand for clothing, picnic items and electric fans.

The year-on-year increase reported by KPMG and the British Retail Consortium was flattered by inflation at over 9% as many firms continue to experience falling sales volumes.

Paul Martin, KPMG’s head of retail, said: “Despite consumer polls suggesting confidence is at an all-time low, this hasn’t translated to money not being spent at the tills, as consumers are determined to enjoy delayed holidays and an unrestricted summer.”

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