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Hot weather and late Easter boost retail sales

10 May 2011

In Brief:

"The late Easter and unseasonal April sunshine led to like-for-like sales on the high street rising by 5.2pc over the month compared to last year."

Taken from The Telegraph, 10 May 2011. Click here to view in full.

FRP Advisory comments:

"The value of retail sales increasing in April is good news for the high street, but it is important for consumers to ensure that they are not spending beyond their means.

"It is likely that April was a temporary lift for retailers – boosted by a combination of good weather, a late Easter and the royal wedding – but with wages failing to increase alongside the rising cost of daily expenses, it is likely that households will have less money to spend on discretionary items in the coming months. In addition, the Government's spending cuts are only just starting to bite and will have a direct impact on the number of people facing redundancy or pay cuts.

"There is already an enormous amount of personal unsecured debt in the UK, and it is crucial that consumers plan their budgets to reflect their income. We must all live within our means and be careful to spend less on non-essentials, particularly if pay rises are a remote prospect."

Charles Turner, deputy vice-president of the Insolvency Practitioners Association and head of personal insolvency at FRP Advisory LLP

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