Homeware sales fell on the high street as in-store sales also plunged to a double-digit low.
According to the latest BDO High Street Sales Tracker, total like-for-like (LFL) sales rose by 2.12% for the week ending 14 August 2022, the lowest results so far in 2022.
Total Homeware LFLs fell by 11.51% this week, with in store sales also down by 13.20%, marking the category’s first negative result in the last five weeks and its eleventh for the year. Total LFLs for homeware have been negative in seventeen out of the last eighteen weeks.
Total in-store LFL sales increased by +5.77% from a base of +36.63% for the same week last year. Total non-store LFL sales slumped by -3.00% from a base of +24.71% for the same week last year.
Commenting on the results, BDO said: “As the Bank of England announced its decision to raise interest rates on the back of a gloomy economic forecast, total in-store LFLs recorded their lowest result of the year and total non-store LFLs fell back into the red.
“This week’s weather was muggy and humid with temperatures climbing into the early 30s accompanied by light showers in some parts of the UK. The same week last year was very warm with temperatures consistently above 20°C alongside overcast conditions.”
Overall footfall grew by +6.8% this week compared to the same week last year, which marked its smallest growth figure in 2022 so far and lowest result since March 2021.
In the same vein, high street footfall rose by +11.8%, while shopping centres saw footfall increase by +5.0%. Meanwhile, footfall to retail parks declined (-2.2%) for a fourth straight week.