Mo Money, No Problems

Back in April we reported that retail sales were looking healthy early on in '08. Seems the trend has continued, with spending in central London last month up 8.7% compared to June 2007, while the national figure dropped by 0.4%. Continental visitors flush with sterling-thumping Euros, along with heavy discounting and aggressive mid-season sales from department stores, have helped retailers to healthy profit margins, though the research firm KPMG cautioned that the trend doesn't necessarily hold true for Greater London - not, perhaps, the kind of news that will please Boris' doughnut ring of suburban supporters.