The study found that more than a quarter of the British luxury industry is generating more than a quarter of its sales from visitors to the U.K., encouraged to spend by the weak pound. It was revealed that Americans still make up the most important single nationality. Central London retailers have delivered their strongest sales in June since the autumn of 2006, with sales up 14.4 percent, according to the British Retail Consortium-KPMG monthly survey. However, growth in the rest of the U.K. failed to perform so well with sales rising 1.2 percent.
Christine Cross, the chief retail adviser to PricewaterhouseCoopers, says: "We've seen less extensive discounting in the capital this summer—a fall of 20 percent compared with this time last year—due to healthy footfall and less sale stock resulting from retailers' better merchandise planning."
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