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May 25, 2022

CBI reports ‘average’ retail sales in UK during May 2022

Retailers in the country expect their business situation to weaken by 13% over the next three months.

Retail sales in the UK have been average this month, according to the Confederation of British Industry’s (CBI) latest quarterly Distributive Trades Survey.

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A total of 126 companies were included in the survey, 56 of which were retailers.

The survey reported that retail sales have been average for May, after having declined by 24% last month.

The figure is, however, expected to drop by 13% next month.

The survey revealed that wholesalers’ sales grew by 41% this month after rising by 39% in April, while online sales volumes declined at the quickest rate of 59%, with this trend expected to ease next month at -54%.

In the next three months, retailers expect sales to weaken by 13%, which would be the quickest fall since November 2020.

Year-on-year retail sales were broadly flat to -1% this month, having declined by 35% in April.

CBI principal economist Martin Sartorius said: “Despite retail sales returning to their average for the time of year in May, the outlook for the sector has worsened due to high inflation and broader economic uncertainty.

“As a result, retailers are reining in their investment plans for the year ahead to the greatest extent since May 2020.   

“Government action to ensure the economic security of the poorest households and support the investment ambitions of retailers will be crucial to ensure the longer-term prosperity of the UK economy and society.”

The CBI noted that UK investment intentions for the next 12 months are at their weakest level since May 2020.

Recent data from the UK’s Office for National Statistics (ONS) revealed that retail sales volume in the country increased by 1.4% last month after dropping by 1.2% in March.

Retail sale values unadjusted for price changes increased by 1.9% in April, having risen by 0.6% in the previous month.

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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.