RE: Rachel Horsefield - Revolution Beauty22 Jun 2023 11:30
Facts seem to disagree with opinions.
REASONS FOR IMPROVED PERFORMANCE
We believe the reasons for the over-performance are as follows:
1. The change in weather. The onset of warmer weather has made a significant difference to our performance, particularly coming after a wet and cold April.
2. In an inflationary environment, annual salary increases deliver a significant uplift in real household income at the time they are awarded. For example, during April annual inflation2 was running at 8.7% and monthly inflation was 1.2%; if an individual received a pay rise of 5.0%, then their real income would have risen by 3.8% in that month. We do not think it is a coincidence that sales stepped forward so markedly at a time of year when many organisations make their annual pay awards.
2. Source: Office of National Statistics, Consumer Prices Index (CPI) published 24 May 2023.