World Cup hangover kicks in on the High Street
Retail sales have slowed slightly in July as the World Cup effect has begun to wear off, the CBI has reported.
“According to the latest CBI survey 44% of High Street stores said sales were up on last year, while 37% said they had fallen,” commented retail analyst Debbie Harrison.
“While the balance of +7% meant sales grew for the fourth month in arrow, it was still lower than June’s +9%.”
She continued: “June’s sales were boosted significantly by the sale of flat screen TVs, beer and football kits, so we’re back to normal now on those items.
“Whether or not the Euro 2008 tournament has a similarly powerful effect remains to be seen.”