UK retail sales flat in February but ahead of expectations
By Michele Maatouk
Date: Friday 22 Mar 2024
(Sharecast News) - UK retail sales were flat in February as wet weather dented spending in stores, according to figures released on Friday by the Office for National Statistics.
Sales were steady following 3.6% growth the month before. This was ahead of expectations for a 0.4% decline.
January's increase was revised up from 3.4%.
The ONS said clothing and department store sales rose because of new collections but this was offset by falls in food stores and fuel retailers. Online sales rose, however, particularly at clothing retailers, as wet weather affected footfall at bricks and mortar stores.
On an annual basis, sales were down 0.4% in February, and 1.3% lower versus their pre- pandemic level in February 2020.
ONS senior statistician Heather Bovill said: "There was a growth in clothing, which rebounded after recent falls as people invested in the new season's collections, as well as department stores.
"However, these were offset by falls in fuel sales, possibly affected by rising prices, and a reduction in food sales."
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