Major British retailers reported the weakest July sales growth since records beg...
LONDON - Major British retailers reported the weakest July sales growth since records began more than 20 years ago on Tuesday, and overall consumer spending was lackluster too, despite a boost from summer blockbusters “The Lion King” and “Toy Story 4”.
The British Retail Consortium, which represents major high-street chains and supermarkets, said annual total sales growth picked up to 0.3% in July after contracting by 1.3% in June and 2.7% in May. Last year, the men’s soccer World Cup and generally good weather boosted spending, adding to tough year-on-year comparisons in recent months.
“Underlying uncertainty about the wider economic and political landscape causing many to hold off making purchases on bigger-ticket items,” Barclaycard director Esme Harwood said.
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