London rides downturn in shopping - Business - Evening Standard
       

London rides downturn in shopping

Stores in London are weathering the economic slowdown better than those elsewhere in the UK.

Figures today showed a 6.2% rise in sales on High Street in the capital in July compared with a 0.9% fall in the rest of the country. The London Retail Consortium said sales were boosted by demand for food but warned that sales of clothing, footwear and goods for the home were hit. Sales of big-ticket items such as furniture and electricals suffered as customers reined in spending.

Stephen Robertson of the Business Retail Consortium said: "London retailers continue to outperform their UK counterparts, buoyed in July by tourists, discounts and the central London economy holding up better than the rest of the country.

"But factors affecting other parts of the UK such as falling house prices and the squeeze on incomes are starting to impact on the capital, hitting sales of more expensive house-related goods."

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