Retail sales in the UK are back to their pre-coronavirus levels. Here’s why this may not last

Retail sales in U.K. have returned to prepandemic levels, but can it last?

Consumers flocked to reopened shops and kept spending online in July, the first month of full activity for retail businesses since a general lockdown was decreed in March to prevent the spread of coronavirus in the U.K. Retail sales jumped 3.6% in volume over June, and were 1.4% above their July, 2019 level, the Office for National Statistics said on Friday.

- Many retailers have announced plans for thousands of job cuts — Britain’s biggest clothing retailer Marks & Spencer MKS, +0.73%, for example, will shed 7,000 jobs in the next few weeks. And clothing and footwear sales are still down 25% over their level last year.

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