British inflation jumped unexpectedly last month to its highest rate since March, pushed up by clothing retailers refraining from their usual summer discounts as they reopened from the coronavirus lockdown.
Official data on Friday showed that June’s retail sales volumes rose 13.9% month-on-month in June “as non-food and fuel stores continue their recovery from the sharp falls since the start of the pandemic”.
UK retail sales “partly rebounded in May”, the Office for National Statistics said on Friday. And while year-on-year sales still fell, the drop was less than might have been expected. Fashion also got an e-stores boost.
German retail sales fell at their fastest pace since 2007 in April, data showed on Friday, but the drop was not as steep as expected in a sign of Germany's relative resilience during the coronavirus crisis.
South African retailer Truworths said on Monday that its full-year profit was likely to fall by at least 30% and it was unlikely to pay a dividend, while all options were open for its British footwear business.
The CEO of Canadian e-commerce firm Shopify declared on Thursday the end of “office centricity” and decided to keep company offices closed till 2021, with most employees to work remotely on a permanent basis after that.
With retail going through a major transformation due to the coronavirus pandemic, a new report says that one key difference we’ll see going forward is the larger number of older people shopping online.