UK retail sales rose by 4.1 per cent in August, according to the British Retail Consortium (BRC), as more confident shoppers spent on food, health and beauty products. Food sales rose by 8.2 per cent in the three months to August, while monthly sales of non-food items were the strongest since February. Sales growth went backwards for categories including footwear and household appliances, however. And given the rate of inflation, UK shoppers are still spending more on fewer products.
BRC chief executive Helen Dickinson said that as inflation eases “sales growth may fall in the coming months, even if volume growth does not”. CA
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IPSX collapses as its Reits weigh options
The world’s first property securities exchange, IPSX, has collapsed due to a lack of cash, leaving the three real estate investment trusts (Reits) on the exchange scrambling to find a new home.
IPSX said yesterday it had started the “orderly wind down of…
