Trial now
GBPUSD TECHS

Key Support Still Exposed

EURUSD TECHS

Topping 50-day EMA

EQUITIES

J&J Drags on Dow, DJIA Underperforms

MNI BRIEF: UK Retail Sales Pick Up in Feb: BRC

MNI (London)
LONDON (MNI)

Total UK sales rebounded to 1.0% in February, up from -1.3% seen in January, while Like-for-like sales rose 9.5%, data published Tuesday by the BRC and KPMG showed.

True
Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

UK retail sales returned to growth in February following a bleak start to the year, although many retailers are concerned about the months ahead, Helen Dickinson, Chief Executive at the BRC said Tuesday, as "previous re-openings have shown that demand can be slow to come back."

"Although the Budget threw retailers a short-term lifeline with the extension of Covid support packages until after the summer, conditions will continue to be incredibly challenging as they face subdued demand, thinner margins and rising logistics costs, alongside the accelerated structural changes to the sector," said Paul Martin, UK Head of Retail at KPMG, the BRC's survey partners.

Total sales rebounded to 1.0% in February, up from -1.3% seen in January, while Like-for-like sales rose 9.5%, data published Tuesday by the BRC and KPMG showed. Online non-food sales surged to 82.2% in February as the lockdown drags on.

Source: BRC-KPMG Retail Sales Monitor