The ‘total’ sales data for April from BRC is -0.3% y/y, the first drop since January of 2021vs. prior +3.7%
“The rising cost of living has crushed consumer confidence and
put the brakes on consumer spending,” BRC chief executive Helen
Dickinson. And added that the
13% jump in global food prices between March and April, pushed up by
the war in Ukraine, spelt more trouble ahead for retailers who would
be unable to absorb all the extra costs.Info via Reuters.