According to BDO’s latest High Street Sales Tracker, total UK retail sales grew by +4.7% compared to September last year. This was largely driven by online sales growth in what was another disappointing result for high street stores in the lead-up to the so-called ‘Golden Quarter’. Online sales growth of +11.6% is likely a result of substantial discounting as retailers try to clear high volumes of unwanted stock after a challenging summer. In-store sales recorded flat growth of +1.8%. Sophie Michael, Head of Retail and Wholesale at BDO, commented: “These sales figures may appear positive at first glance, but they show clear issues for the sector as we approach the most critical time of year.” To read BDO’s news release, go to https://www.bdo.co.uk/en-gb/news/2024/heavy-discounting-squeezes-retailers-margins-further-in-the-run-up-to-golden-quarter.