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ONS Retail sales – Barclays’ comment

Ian Gilmartin, Head of Retail & Wholesale at Barclays, comments on today's ONS Retail sales figures.

“The expected summer lull for UK retailers didn’t really materialise with July sales clawing back the dip in the previous month’s performance. That said, the hot weather does seem to have taken its toll on some high street stores though food and drink continued to benefit from the extended heatwave, as have online sales. However, the combination of zero real wage growth and growing Brexit uncertainty is increasingly forcing shoppers to think twice before committing to major purchases.

Retailers have dealt with difficult trading conditions before, and are certainly able to respond to the current challenges. There’s very little the industry can do about the external economic or political situation, so retailers will now be aiming to focus on the fundamentals – making sure their stores and websites are appealing to customers, with a range of quality products at the right price.”

Notes to editors

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About Barclays

Barclays is a transatlantic consumer and wholesale bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.

With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 80,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website .