Retail sales warm up in February

R.G. | ShareCast | 09 Mar, 2010 08:18 - Updated: 13:28 | | |

Big Sale

Retail sales recovered in February as the freeze that affected January eased, but the British Retail Consortium still said the figures were 'not strong'.

Like-for-like sales were up 2.2%, the BRC said, compared with the 0.7% fall seen in January, when the snow hampered people's ability to get to the shops, but the BRC added that the comparison in 2009 was very weak and the underlying trends give grounds for caution.

"Despite appearances, these results are not that strong," director general Stephen Robertson said.

"The growth is compared with very weak figures a year ago when February saw the worst of last winter's weather and this February's performance was helped by sales postponed from January - particularly sales of non-food items such as homewares and fashion."

Food sales for instance grew at their slowest rate since 2007, the BRC said.

One beneficiary of the cold weather was online and telephone sales, which rose by 15.5% compared over last year as online retailers caught up with the backlog of orders caused by the cold snap.

More news

17:14 Righster Group boss goes out on a high as revenue growth exceeds expectations

Righster Group’s chief executive officer stepped down on Wednesday as the company revealed stronger-than-expected revenue growth.

17:13 Sector movers: Apple results give UK tech stocks a boost, ARM rises

Forecast-busting results from US smartphone and tablet giant Apple gave London-listed tech shares a boost on Wednesday, especially those of supplier ARM Holdings.

17:11 Shore Capital expects 'negative reaction' after Anglo American's Q4 output declines

Broker Shore Capital said it expected a “negative market reaction” after mining giant Anglo American reported a decline in output in the fourth quarter.

17:08 Thursday preview: Diageo reports half year amid tough trading conditions

Drinks maker Diageo is expected to report a slump in half-year interims on Thursday, reflecting weak sales in Asia.

17:06 London close: Stocks erase losses to edge higher ahead of FOMC

UK stocks ended slightly higher on Wednesday after a choppy session, though gains were modest ahead of the all-important Federal Reserve policy decision later that evening.

17:06 Europe close: Stocks little changed ahead of FOMC rate decision

European stocks were little changed ahead of the Federal Reserve’s latest policy decision.

16:40 Matchtech agrees Networkers International takeover, both say trading in line

Engineering recruiter Matchtech has agreed to acquire rival AIM-listed recruiter Networkers International, with both companies issuing trading updates that reassured of good demand for their respective markets.

16:24 Cost of dying boosts funeral plan sales above £500m

Funeral plan provider Golden Charter revealed on Wednesday that rising funeral inflation has boosted pre-paid funeral sales to record levels above £500m paid into last year.

15:56 FTSE 100 movers: Experian boosted by new growth strategy, Anglo disappoints with 2015 guidance

Credit-checking firm Experian was a high riser after unveiling an unexpected $600m share buyback and outlining plans to “deliver annual average growth in organic revenue in the mid-single digit range”. The company also said it has the potential for “strong growth” in earnings per share.

15:55 SABMiller CFO raises £1.1m from share sale

The chief financial officer (CFO) of SABMiller has raised over one million pounds from selling shares one week after the beverages group reported a decline in lager volumes due to falling sales in China and North America in its third quarter.