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April 27, 2022

CBI reports UK retail sales below standard levels for April

Retail sales volumes are expected to continue declining 'at a more modest pace' of 8% next month.

Retail sales in the UK have declined significantly from typical levels this month, according to the Confederation of British Industry’s (CBI) latest monthly Distributive Trades Survey.

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A total of 108 companies were included in the survey, 51 of which were retailers.

During the month, retail sale volumes dropped by 35% compared with 9% last month, representing the first fall in 13 months.

This trend is expected to continue at a ‘modest’ rate of 8% next month.

The survey also found that retail orders fell slightly by 7% after a growth of 3% last month. They are expected to continue to drop by 9% next month.

Wholesaler’s sales grew by 39% after increasing by 29% last month, with this growth expected to be at 32% next month.

Online sales volumes dropped by 46% the previous month and continued to fall by 36% this month. They are expected to decline by 6% next month.

CBI principal economist Martin Sartorius said: “Retail sales were below seasonal norms in April as consumer spending continued to shift back towards services and rising prices impacted households’ spending power.

“Rapid inflation means that the cost-of-living crisis is going nowhere soon.

“To combat these challenges, the government will need to keep a close eye on support for vulnerable households and businesses struggling with higher energy prices.

“Meanwhile, going for growth must continue to be the government’s primary domestic focus, as increasing productivity growth is the only sustainable route to raise living standards.”

Earlier this month, data from the British Retail Consortium (BRC) showed that retail footfall in the UK decreased by 15.4% last month compared with three years earlier.

The figure represented a slight improvement of 1.2% from February and was above the three-month average decline of 15.9%.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.