Euro 2024 boosted retailers with football shirts, alcohol and home electronics best sellers
RETAIL sales bounced back in July with shoppers encouraged by the Euros.
Fans splashing out during the footie tournament led to a 0.5 per cent sales rise in all shops.
Sales of football shirts shot up during Gareth Southgate’s men’s journey to the final, as well as alcoholic drinks, plus home electronics such as TVs.
Jacqui Baker, of accountants RSM UK, said Wimbledon was also a big help, while the election result gave buyers “some certainty and led to a further improvement in consumer confidence”.
Widespread discounting was also encouraging to shoppers, who had largely stayed away from stores in June due to poor weather — leading to an 0.9 per cent fall in sales in the rainy month.
But the Office for National Statistics, which released the figures, revealed July was a “poor month for clothing and furniture shops”, and pointed to “falling fuel sales despite prices at the pump falling”.
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Meanwhile, the British Retail Consortium pointed to recent recovery, saying: “Retailers welcomed the July weather which gave sales a boost, particularly in areas such as clothing and books as consumers prepared for holidays.”
It also said retailers are hopeful lower interest rates would boost spending in shops.
£15m PWC hit
ACCOUNTING giant PWC has been fined £15million for failing to report suspected fraud in 2016.
Around 123,000 elderly consumers lost £237m after minibonds company London Capital And Finance collapsed.
It is the first time an audit firm has been fined by the Financial Conduct Authority watchdog.
£35b for Rev
CHALLENGER bank Revolut has been valued at £34.9billion after staff sold shares to private equity firms.
Now the most valuable start-up in Europe, it is expected to apply soon for a stock market listing.
Revolut claims to have more than 45 million customers worldwide and has just secured a UK banking licence.
GOOD WEEK: SEBASTIAN Ebel, the managing director of travel group TUI, after Brits rushed to snap up package holidays again.
BAD WEEK: EVOKE boss Per Widerstrom after the owner of bookmaker William Hill saw earnings plummet by two-thirds.