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We have not received a qualifying Tax Free form for your VAT refund, and as a result we will / have debited your account according to the Terms and Conditions that you signed when receiving the refund in cash.
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We have received your Tax Free form and the refunding process is now complete.
Your refund amount was deducted from the original purchase amount at the time of purchase in the store.
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Sales growth in France and the UK continued the positive trajectory seen in recent months, with gains of 26% and 38%, respectively.
5th July 2018
Sales growth in France and the UK continued the positive trajectory seen in recent months, with gains of 26% and 38%, respectively. Whilst these gains ostensibly represent ongoing confidence to travel to these destinations, with increasing numbers of tourists reported in London and Paris, a degree of cautious optimism should be maintained.
The context for the gains in May are that sales declined by 25% and 6% in France and the UK, respectively in May 2016, thereby distorting growth comparisons.
Additionally, whilst the reaction to the Westminster and Champs Elysees attacks were relatively muted, it is too early to qualify the effect of more recent attacks in Manchester, London Bridge and Notre Dame. Although early indications on the effect of the Manchester attack suggested limited impact, this could be compounded by more recent events.
Furthermore, growth comparisons in the UK will inherently be likely to be tempered somewhat in the coming months, based on the anniversary of the referendum outcome in June and subsequent devaluation of Sterling; and therefore delineating this from the effect of terror attacks will inherently be fraught with difficulty.
To view more, please see the report here.
