Barclays : ONS Retail stats - Barclays' comment

Commenting on today's ONS Retail Sales figures, Ian Gilmartin, Head of Retail & Wholesale at Barclays, said:

'The retail sector has confounded the gloomier predictions following the EU referendum. The industry has to be given the gold medal for its July performance - this is a very encouraging result in the current circumstances.

July's figures gained a boost from brighter weather finally allowing retailers to shift their summer items and the weaker pound has also encouraged an increase in visitors to the UK, with luxury goods retailers reaping the benefits. It may be tricky to replicate this result in future months, especially as cost management remains such a priority and increased import costs for retailers will begin to have an impact, but the industry has demonstrated in the last few weeks that it is certainly up for the challenge.'

About Barclays

Barclays is a transatlantic consumer, corporate and investment 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 130,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.home.barclays .