British Retail Consortium (BRC) June retail like-for-like sales: -0.8% y/y (vs. expected +1.0%)

British Retail Consortium (BRC) June retail like-for-like sales values: -0.8% y/y

• vs. expected +1.0%, prior was +0.5%

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• UK June total retail spending +0.6% y/y (prior +2.0%)
• UK Q2 total retail spending +2.6% y/y (vs. +2.1% y/y for Q1)
• BRC says the underlying trend for overall sales, with non-food sales growing strongly, is still robust with 3.6% growth in like-for-like sales in the three months through June.