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June 24, 2022

CBI data shows fall in retail sales in UK amid high inflation

Retailers’ orders with suppliers also declined this month due to lower demand.

Retail sales in the UK have fallen slightly over the past 12 months, according to the Confederation of British Industry’s (CBI) latest monthly Distributive Trades Survey.

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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:  
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A total of 100 companies were included in the survey, 39 of which were retailers.

The survey showed that the country’s retail sales volumes in the year to June dropped to -5% from -1% last month.

Sales volumes are also expected to remain largely unchanged over the year to July, falling marginally to -2%.

CBI said that sales declined to -19% this month from 0% in May, with this expected to further fall to 25% in July.

The survey also found that wholesale volumes slowed sharply in June to +4%, from +30% in the previous month. This figure is expected to grow slightly next month to +9%.

Retailers’ orders with suppliers also declined to -8% this month, after growing +2% in May due to lower demand.

CBI lead economist Ben Jones said: “Retail volumes are struggling as high inflation eats away at consumers’ budgets.

“The squeeze on household incomes appears to have offset any boost to activity from the extended Platinum Jubilee bank holiday earlier this month.

“There are also clearer signs that a downturn in consumer spending is beginning to ripple out across the wider distribution sector, with wholesalers seeing a 14-month period of robust sales growth come to a grinding halt this month.

“As business sentiment weakens, government action is needed urgently to prevent a deeper and more prolonged downturn.

“Creating a permanent investment incentive and tackling skills shortages by introducing immediate flexibility to the apprenticeship levy would be strong first steps for boosting confidence.”

Earlier this month, data from the British Retail Consortium (BRC) and Sensormatic IQ revealed that the total retail footfall in the UK for last month dropped by 12.5% on a year-on-three-years (Yo3Y) basis.

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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.