Up-to-date coverage of the latest events in UK retail.
7.39am Retail sales record first increase in five months
Retail sales grew for the first time in five months despite struggling high streets and political uncertainty.
Data showed sales volume rose for the first time since November, according to the Confederation of British Industry (CBI)
The retail index increased to +13 in April, with 49% of respondents reported increased sales volumes. This uplift follows a disappointing minus 18 the previous month, the lowest score in 17 months.
Groceries, jewellery and flowers were the driven force behind the uptick which the CBI attributes to Easter falling later this year.
7.14am Amazon posts record profits
Online retailer Amazon has posted record profits for the three months to March 31.
The retail giant’s net income rocketed to $3.6bn (£2.8bn) up from $1.6bn (£1.25bn) for the same period the previous year.
Operating income more than doubled to $4.4bn (£3.5bn) up from $1.9bn (£1.5bn) for the first quarter last year.
Amazon’s net sales increased 17% to $59.7bn (£46.3bn) however it expects sales for the second quarter to slow to around 13% to 20%.