UK retail sales return to growth despite lockdown - from the FT 9/3/219 Mar 2021 04:03
The run-up to the reopening of schools and increased spending on home improvement helped UK retail sales return to growth in February despite the national lockdown, according to the latest industry data.
Retail sales in the UK grew 1 per cent last month compared with the same period last year, a sharp reverse of a 1.3 per cent year-on-year contraction in January, according to an analysis by the British Retail Consortium trade body and consultancy KPMG.
Helen Dickinson, the BRC’s chief executive, attributed the rebound to anticipation of the phased easing of the third national lockdown, which started on Monday with pupils returning to classrooms. She said this “prompted a burst in spending on non-food items, such as school uniforms”.
Raheel Ahmed, head of consumer products at Barclaycard, said: “With consumers generally feeling more optimistic, there is a strong indication of a more prosperous period to come as the long-awaited recovery and life after lockdown begins.”