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BRC Figures: More Weakness On UK High St

CONSUMER CYCLICALS
British Retail Consortium figures for Feb-24 out early this morning hit by "wettest February on record":


  • Total retail sales +1.1% y/y (+5.2% in Feb-23)
    • Food sales +6.0% (3M to Feb-24)
    • Non-food -2.5% y/y (same basis) with online -4.1% and in-store -2.5%
  • Clearly negative for the online e-tailers but also widely across UK cyclical retail (Curry’s, Dunelm, Kingfisher, Frasers, JD Sports, Next, Superdry) as well as the online companies (Ocado).
  • Note that these figures are not inflation-adjusted, implying really quite weak volume pictures across the UK High St.

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