British Retail Consortium Like-for-like Sales for April 2017, up 5.6% y/y
- expected +0.5% y/y
- prior -1.0%
I did a double-take on that one ... sort of redefines the word 'BEAT'
HUGE, BIGLY BEAT that one!
Total retail spending +6.3% y/y (strongest since April 2011)
- prior -0.2%
BRC citing April Easter holidays as a boost for retail sales. BRC Chief Executive Helen Dickinson:
- "Looking to the longer-term signs of a slowdown, the outlook isn't as rosy"
What a party-pooper ...
OK ... so this from the Reuters report:
- Total retail sales showed their strongest year-on-year growth in six years in April, but the jump largely reflected the timing of the Easter holiday which fell in March last year but in April in 2017, the British Retail Consortium said.
Bear with me here ...
- the jump largely reflected the timing of the Easter holiday
- which fell in March last year but in April in 2017, the British Retail Consortium said.
OK, so the BRC says to discount the +5.6% because it was the Easter effect.
So, I went back and looked at how Easter impacted on March 2016:
And ... for March 2016:
- On a like-for-like basis .... sales fell by 0.7 percent in March, their worst performance since August of last year.
OK. So the point seems to be
- If sales fall it is because of Easter
- If sales rise it is because of Easter
British Retail Consortium Like For Like Sales
- An indication to retail sales
- Attempts to exclude effects of expansion, acquisition or any other event on a company's sales