Hot weather boosted retail sales in June
Sales volumes increased by 0.9% in the month, the Office for National Statistics (ONS) said.
Supermarkets reported people buying more drinks, while fuel sales were up as consumers "ventured out and about in the sunshine", the ONS said.
But it said sales had fallen by 2.8% in May, which was more than it had previously estimated.
After May's fall in sales, a rebound in June had been expected, but the rise was lower than many economists had forecast.
Ruth Gregory, deputy chief UK economist at Capital Economics, called June's sales increase "disappointingly small".
The monthly retail sales numbers have been up and down lately, reflecting weather patterns and a late Easter.
But overall, the rise in retail spending has lost momentum, with sales up just 0.2% between April and June compared with the previous three months.
That ties in with a separate survey from researchers Gfk which suggests that consumer confidence is weaker than a year ago, and supports economists' views that next month's figures on economic growth will show it was lacklustre in the second quarter of this year.
Sales in food stores were up 0.7% in June, the ONS said, while fuel sales rose 2.8%.
"The warm weather in June helped to brighten sales, with supermarket retailers reporting stronger trading and an increase in drink purchases," said ONS senior statistician Hannah Finselbach.
"It was also a good month for fuel sales as consumers ventured out and about in the sunshine."
The Met Office said that England had its warmest June on record, and the second warmest for the UK as a whole, following two heatwaves.
Sales at non-food stores rose, the ONS said, with clothing benefiting from promotions and the good weather. This was partially offset by a fall in sales of household goods such as furniture.
Jacqueline Windsor, head of retail at PwC UK, said the rebound in sales at supermarkets and fashion retailers was down to shoppers entertaining at home and refreshing their wardrobes.
"However, England's warmest June on record also discouraged shoppers from visiting high streets, with footfall declining and online retail sales penetration increasing," she said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
a day ago
- Yahoo
Why Britain faces a bigger Trump tariff blow than no-deal Canada
Britain is facing a bigger hit from Donald Trump's tariffs than Canada, despite Sir Keir Starmer's trade deal with the US. Goods exported from the UK to the US are charged an average tariff rate of 9.3pc, while the average rate charged on goods from Canada is just 9pc, according to data from Capital Economics. The findings come after the US president singled out Canada as he launched a sweeping tariff blitz last week, imposing a 35pc levy on its North American neighbour. Meanwhile, Britain has secured a rate of 10pc, the lowest levy in a trade deal secured by any nation. However, experts said the reality was less favourable for the UK. David Henig, director of the UK Trade Policy Project, said: '10pc suggests we got the best deal, but actually if you dig underneath it, in some areas that is not the case.' This is because the headline 35pc tariff only applies to Canada's exports that are not compliant with the pre-existing United States Mexico Canada Agreement (USMCA). This exempts goods that originate in North America, which make up around 90pc of Canada's goods exports to the US. Stephen Brown, deputy chief North America economist at Capital Economics, said: 'This increase in the tariff rate is not really a big deal for the Canadian economy, even though the optics look bad.' Mr Trump last week said Canada had 'failed to cooperate' on curbing the trade of fentanyl, and criticised the retaliatory tariffs Canada has imposed on the US. Canada had been pushed hard for a deal with 11th-hour lobbying in Washington. However, its prime minister, Mark Carney, angered Mr Trump after he said the country would join the UK in recognising a Palestinian state. Canada's steel, aluminium and car exports to the US are still subject to Mr Trump's respective sectoral tariffs of 50pc and 25pc, but there are exemptions for USMCA-compliant car parts. Under the terms of the UK trade deal, Sir Keir secured a quota of 100,000 cars that would be subject to tariffs of only 10pc, instead of 25pc. But the UK has so far been unable to secure an exemption from Mr Trump's sectoral tariffs on steel and aluminium, though the rate for Britain has been fixed at 25pc instead of 50pc. Trade Secretary, Jonathan Reynolds, said last week he was optimistic that Britain will be able to get this 25pc tariff lifted. A government spokesman said: 'Thanks to our landmark trade deal with the US, the UK is now the only country in the world to have secured a 10pc tariff for car exports, the only country not paying the 50pc global tariff on steel and aluminium, as well as receiving the lowest reciprocal tariff rate of 10pc. 'We will continue to work with the US to get this deal implemented as soon as possible to give industry the security they need, protect vital jobs, and put more money in people's pockets through the Plan for Change.' The UK's effective tariff rate is lower than the headline 10pc rate because some key goods, such as pharmaceuticals, have so far been exempted from tariffs. Although Canada's effective tariff rate is lower than the UK's, Mr Trump's tariffs are likely to have a bigger impact on Canada because its exports to the US make up a much larger share of its economy. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Sign in to access your portfolio
Time Business News
a day ago
- Time Business News
Hospitality Cash Flow Experts Reveal Smart Ways to Keep Your Restaurant Profitable in Australia
Managing cash flow remains one of the most significant challenges facing Australian hospitality businesses today. Between rising ingredient prices, staff shortages, fluctuating customer demand, and seasonal shifts, restaurant owners must continuously monitor how money moves in and out of their business. Cash flow problems have been the downfall of many bustling restaurants, even those with strong customer turnout. When cash inflows slow down or expenses spike unexpectedly, even profitable operations can find themselves struggling to meet ongoing costs and turn a profit. This article distills valuable insights from hospitality cash flow experts, offering practical tips tailored specifically for Australian restaurants. You will also discover how debt collection services designed for the hospitality sector can assist in recovering unpaid invoices and reducing financial losses. Running a restaurant in Australia is no easy feat. The hospitality industry faces distinct pressures from the cyclical nature of business. Peak seasons like Christmas, Easter, and school holidays bring busy trading periods, whereas months such as February and July can be notoriously slow. Despite fluctuations in sales, rent, wages, and supplier bills must be paid promptly. One delayed payment can cause a domino effect, especially if multiple customers or clients postpone their payments. Even restaurants with steady foot traffic can experience cash flow crunches. Moreover, suppliers often enforce strict payment terms. Falling behind on payments can jeopardize supply reliability, potentially disrupting kitchen operations. Add in recurring expenses such as marketing campaigns, equipment maintenance, and utility bills, and cash flow management becomes a complex balancing act. The unpredictable interplay of revenue and expenses means business owners must maintain a careful watch over daily income and outgoings, anticipating upcoming costs and planning for unexpected setbacks. Cash flow experts bring structured financial planning and clarity to what can often feel like a whirlwind of transactions. These professionals analyse daily sales, spending habits, and fixed costs, providing restaurateurs with a clear picture of how money flows through their operations. Beyond just tracking income and expenses, cash flow experts prepare businesses for significant upcoming spending such as tax obligations, licence renewals, or major equipment repairs ensuring these costs are factored into financial plans well in advance. Their expertise enables early identification of profit leaks and cash flow pressure points. By implementing well-tested strategies and simple operational adjustments recommended by such experts, restaurants can dramatically improve their financial resilience. For example, cash flow consultants may suggest renegotiating supplier terms, tweaking menu prices, or implementing cash flow forecasting software. These insights are invaluable to restaurateurs aiming to sustain profitability through volatile periods. Improving cash flow is often about making small, strategic adjustments that cumulatively create significant positive effects. Here are several actionable tips hospitality cash flow experts recommend: Review Daily Earnings and Stock Levels: Monitor daily sales to adjust your stock purchases accurately. Avoid overstocking items with slower turnover to reduce waste and free up cash. Monitor daily sales to adjust your stock purchases accurately. Avoid overstocking items with slower turnover to reduce waste and free up cash. Focus on High-Margin Menu Items: Identify your best-selling and most profitable dishes, and consider promoting these more heavily. Updating your menu periodically ensures alignment with current customer preferences and profitability goals. Identify your best-selling and most profitable dishes, and consider promoting these more heavily. Updating your menu periodically ensures alignment with current customer preferences and profitability goals. Offer Incentives for Early or Prepaid Bookings: Encourage customers to pay upfront or early by offering small discounts or value-added incentives. This can improve cash flows and reduce the likelihood of no-shows. Encourage customers to pay upfront or early by offering small discounts or value-added incentives. This can improve cash flows and reduce the likelihood of no-shows. Implement Deposit Requirements for Large Groups: For functions or large bookings, require a deposit to secure the reservation. This helps cover upfront costs and reduces the risk of cancellations without notice. For functions or large bookings, require a deposit to secure the reservation. This helps cover upfront costs and reduces the risk of cancellations without notice. Schedule Staff According to Customer Traffic: Use historical sales data to predict busy and slow periods, aligning staff rosters accordingly to avoid overstaffing and minimise labour costs. Use historical sales data to predict busy and slow periods, aligning staff rosters accordingly to avoid overstaffing and minimise labour costs. Use Automated Financial Tracking Software: Invest in software solutions that automatically track income, expenses, and key performance indicators (KPIs). Real-time financial insights enable faster decision-making and accurate budgeting. Invest in software solutions that automatically track income, expenses, and key performance indicators (KPIs). Real-time financial insights enable faster decision-making and accurate budgeting. Maintain a Cash Reserve: Wherever possible, build a cash cushion through disciplined savings during profitable periods to buffer against slow months or unexpected costs. Taking a proactive, data-driven approach to daily operations helps maintain control over money movement and prevents budget overruns. These small improvements also build a culture of financial mindfulness among staff. Many restaurants operate with payment terms, especially when providing group functions, catering, or events where invoices are sent after the service. Unfortunately, delayed or unpaid client invoices are common, which can severely disrupt cash flow. The best debt collection services for restaurants designed specifically for Australian small businesses including restaurants offer expert support to recover overdue payments without harming customer relationships. These agencies understand the hospitality sector's nuances. They balance professional firmness with respectful communication to maintain goodwill and compliance with Australian consumer laws. Some collection agencies integrate directly with your point-of-sale systems, allowing you to send overdue accounts for recovery conveniently. Utilising a reputable debt collection service can reduce losses, improve cash inflows, and free up valuable time for managers to focus on operations rather than chasing payments. If an invoice remains unpaid for over 30 days despite multiple reminders and no response from the client, it may be time to consider professional debt collection. Acting early increases the likelihood of recovering debts and avoids the amount becoming more difficult to recoup later. However, choosing the right agency is crucial. Look for agencies experienced in hospitality, able to tailor their approach to your restaurant's specific needs and budget. Transparent communication and regular case updates are essential features of a reliable service. When selecting a cash flow consultant or financial advisor, hospitality experience is vital. The advisor should provide straightforward, actionable advice that fits your restaurant's size, location, and operational model. Furthermore, compatibility with your existing accountant or bookkeeper ensures seamless integration and avoids duplication or conflicting strategies. Ask for references or case studies demonstrating their success in helping Australian restaurants across major cities such as Melbourne, Sydney, and Brisbane. An ideal advisor will not only crunch numbers but also understand the daily realities of running a restaurant business and offer solutions that are practical and achievable. Cash flow issues affect every restaurant at some stage, but they don't have to signal failure. With the right tools, forward planning, and expert support, your restaurant can maintain profitability . best debt collection services for restaurants withstand the inevitable ups and downs of business. Regularly monitoring your financial health, encouraging upfront deposits, fine-tuning operational efficiencies, and enlisting professional help for overdue payments make a tangible difference. Remember: profit isn't a lucky accident. It comes from disciplined planning, smart decision-making, and the willingness to seek outside help when needed. If you're struggling with cash flow or late payments, don't wait to speak to a debt collection agency or a hospitality cash flow expert today to set your business on stable financial footing and preserve its future success. TIME BUSINESS NEWS
Business Wire
3 days ago
- Business Wire
Publix Reports Second Quarter 2025 Results and Stock Price
LAKELAND, Fla.--(BUSINESS WIRE)--Publix's sales for the three months ended June 28, 2025 were $15.6 billion, a 7.3% increase from $14.5 billion in 2024. Comparable store sales for the three months ended June 28, 2025 increased 6%. The company estimates the increase in sales for the three months ended June 28, 2025 compared to the three months ended June 29, 2024 was 1% higher due to the effect of the Easter holiday being in the second quarter in 2025 and in the first quarter in 2024. Net earnings for the three months ended June 28, 2025 were $1.4 billion, compared to $972 million in 2024, an increase of 41.5%. Earnings per share for the three months ended June 28, 2025 increased to $0.42 per share, up from $0.29 per share in 2024. Excluding the impact of net unrealized gains on equity securities in 2025 and 2024, net earnings for the three months ended June 28, 2025 would have been $1 billion, compared to $940 million in 2024, an increase of 11%. Earnings per share for the three months ended June 28, 2025 would have been $0.32 per share, compared to $0.29 per share in 2024. Publix's sales for the six months ended June 28, 2025 were $31.4 billion, a 6.2% increase from $29.6 billion in 2024. Comparable store sales for the six months ended June 28, 2025 increased 5%. Net earnings for the six months ended June 28, 2025 were $2.4 billion, compared to $2.3 billion in 2024, an increase of 2.1%. Earnings per share for the six months ended June 28, 2025 increased to $0.73 per share, up from $0.71 per share in 2024. Excluding the impact of net unrealized gains on equity securities in 2025 and 2024, net earnings for the six months ended June 28, 2025 would have been $2.2 billion, compared to $2 billion in 2024, an increase of 10.1%. Earnings per share for the six months ended June 28, 2025 would have been $0.68 per share, compared to $0.61 per share in 2024. These amounts are based on unaudited financial statements that will be filed today with the U.S. Securities and Exchange Commission and made available on the company's website at Effective Aug. 1, 2025, Publix's stock price increased from $20.20 per share to $21.15 per share. Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors. 'Next month, we will celebrate Publix's 95 th anniversary,' said Publix CEO Kevin Murphy. 'I'm proud our associates continue to deliver on the vision our founder had when he started this special company.' Non-GAAP Financial Measures In addition to reporting financial results for the three and six months ended June 28, 2025 and June 29, 2024 in accordance with U.S. generally accepted accounting principles (GAAP), the company presents net earnings and earnings per share excluding the impact of equity securities being measured at fair value with net unrealized gains and losses from changes in the fair value recognized in earnings (fair value adjustment). These measures are not in accordance with, or an alternative to, GAAP. The company excludes the impact of the fair value adjustment since it is primarily due to temporary equity market fluctuations that do not reflect the company's operations. The company believes this information is useful in providing period-to-period comparisons of the results of operations. Following is a reconciliation of net earnings to net earnings excluding the impact of the fair value adjustment for the three months ended June 28, 2025 and June 29, 2024: Following is a reconciliation of net earnings to net earnings excluding the impact of the fair value adjustment for the six months ended June 28, 2025 and June 29, 2024: (1) Income tax expense is based on the company's combined federal and state statutory income tax rates. Expand Publix, the largest employee-owned company in the U.S. with more than 260,000 associates, currently operates 1,413 stores in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina, Virginia and Kentucky. For 28 consecutive years, the company has been recognized by Fortune as a great place to work. In addition, Publix's dedication to superior quality and customer service is recognized among the top in the grocery business. For more information, visit the company's newsroom at
