Retailers 'holding out for a late summer'

The British Retail Consortium (BRC) has underlined the fact that businesses operating on the nation's high streets are having a tough time operating in the unseasonably wet weather.

Director-general of the organisation Stephen Robertson claimed that many retailers are holding out for a late summer in order to ease the strain.

Indeed, the latest High Street Sales Tracker from BDO indicates that spending only grew modestly in June - and much of this was attributable to the extended Jubilee Bank Holiday.

Mr Robertson underlined that last month was the wettest June on record, adding that overall performance would have been much worse if it was not for the royal celebrations.

"Retailers with unsold shorts, sandals or garden furniture are now pinning their hopes on a decent late spell of sunshine to clear space for autumn ranges," the expert remarked, adding that the good news is that inflation is down as a result of severe discounting.