NEWS

UK retail sales grew at fastest rate in February

Published on: 6th March 2013

UK retail sales grew at their fastest rate in more than three years in February, as the drier weather coaxed shoppers back out onto the high street.cash-money300

The British Retail Consortium (BRC) said like-for-like retail sales were up 2.7% on the previous year. That is the fastest rate of like-for-like sales growth since December 2009, the group said. It said customer demand for electrical goods was the “growth engine” of the high street.

The latest data will allow retailers a sigh of relief, after recent reports suggested the UK might be on the brink of another recession.

Helen Dickinson, director-general of the BRC said: “February saw growth across all parts of retailing, with big-ticket goods and items for the home recovering particularly well.”

Food sales were up by 1%, despite the horsemeat scandal which threatened to affect the big supermarkets.

Joanne Denney-Finch, chief executive of the food data provider IGD, said: “Although there was a lot of ‘switch buying’, such as a fall in frozen burger sales in favour of more ingredients to cook from scratch, the overall effect on food and drink sales was neutral.”

The BRC figures contrasted with a recent CBI survey which reported that food stores suffered their worst performance for five years in February.

If you would like to receive the latest toy trade news straight to your inbox, please enter your email address in the subscribe box above; you can also follow Toy World on Twitter and Facebook and request a print subscription here.

RECENT ARTICLES

All change for BTHA Toy Retailer of the Year Awards 2020

Exclusive: Toy retailers react to latest Covid measures in Wales and Ireland

Obituary: Ian Cuthbert

Rubie’s opens Virtual Showroom for its customers

Selfridges announces its top toys for Christmas 2020

Tomy and Universal partner on Sing 2 toy line

Great Ormond Street Hospital enjoys exclusive storytelling with Tonies

Welsh and Irish non-essential retailers to close under new Covid measures

Was Amazon Prime Day 2020 a disappointment?

Tomy acquires Fat Brain Toys