Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.