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- According to figures from the British Retail Consortium (BRC), retail sales in July rose to 2.3%, bringing three consecutive months of decline to an end.
- BRC-KPMG sales monitor revealed that sales growth was primarily driven by inflation last month as retailers significantly increased their prices.
Demand for summer clothing, beauty product and UK holidays, etc. witnessed a climbed last month during the hot weather. Still, intensifying inflation is masking a much more significant drop in volumes, according to new figures.
According to figures from the British Retail Consortium (BRC)-KPMG Retail Sales Monitor, the UK retail sales have witnessed a 2.3% rise last month compared with a 6.4% rise the year before. The BRC-KPMG report revealed that the sales growth was primarily driven by inflation last month as retailers significantly increased their prices.
With the UK inflation touching decades high of 9.4% in June, with the Bank of England is now predicting the inflation levels to cross 13% in October due to further increase in energy price cap.
Amidst the intensifying inflation, Kalkine Media® explores three retail stocks that you may keep an eye on.
Asos Plc (LON: ASC)
On Tuesday, the British online fashion and cosmetic retailer Asos Plc's shares were trading down by 0.29% at 8:05 AM (GMT+1) at GBX 1,041.00. With a P/E ratio of 32.41 and an EPS of 1.26, the firm's market cap currently stood at £1,043.38 million. The one-year and YTD returns offered by this FTSE 250 listed firm hasn’t been great as it down by -74.08% and -56.45%, respectively.
Boohoo Group Plc (LON: BOO)
Another leading online fashion retailer group, Boohoo Group Plc's shares on Tuesday were trading up by 1.87% at 8:05 AM (GMT+1) at GBX 64.30. With an EPS of 0.07, the firm's market cap currently stood at £800.26 million. The FTSE AIM 100 Index BOO hasn't performed well as it has offered its shareholders negative returns over the past year and on a YTD basis with returns of returns -76.12% and -48.77%, respectively.
Ocado Group Plc (LON: OCDO)
A technology-led global software and robotics platform business, Ocado Group Plc's shares on Tuesday were trading down by 2.70% at 8:05 AM (GMT+1) at GBX 63.12. With an EPS of 0.07, the firm's market cap currently stood at £800.26 million. OCADO’s performance over the past one year and on YTD basis hasn’t been great as it was in the negative territory with returns of -76.12% and -48.77%, respectively.
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