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April 21, 2022

SRC says total sales in Scotland increased 0.6% in March 2022

Scottish sales increased by 0.7% on a LFL basis compared with March 2019.

Data released by the Scottish Retail Consortium (SRC) has shown that total sales for March grew 0.6% compared to the corresponding period three years prior (Yo3Y).

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The figure, covering the five weeks from 27 February to 2 April, was above both the three-month average decrease of 3.2% and 12-month decline of 7.3%.

During the month, Scottish sales were up 0.7% on a like-for-like (LFL) basis, compared with Yo3Y, and above the three-month and 12-month average decrease of 2.1% and 4.7%, respectively.

Total Food sales in the month rose 6.0%, compared with March 2019. The three-month average was below the UK level of 9.2% on a Yo3Y basis.

The SRC data also revealed that total non-food sales dropped by 3.9% in March compared to Yo3Y.

SRC policy head Ewan MacDonald-Russell said: “March sales sparkled compared to recent months as shoppers returned to spending.

“This is the first-time sales have been close to pre-pandemic levels since the Covid crisis hit and coincides with the removal of nearly all Scottish Covid restrictions.

“However, these improved figures are at least in part a result of rising shop prices as retailers grapple with a host of inflationary costs.”

SRC expects costs to continue to worsen and the rising inflation to continue in April.

MacDonald-Russell added: “Food sales rose by 6% in March, driven by higher inflation alongside customers focusing more on eating at home than at eateries. Retailers also noted the endemic supply challenges had eased slightly this month; helping furniture and electrical shops.”

Last month, the British Retail Consortium (BRC) reported that UK retail sales grew by 6.7% on a total basis in February, compared with a 1.0% increase the previous year.

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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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  • 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
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by GlobalData
Enter your details here to receive your free Report.