5 March 2001, 22:32  UK BRC: FEB LIKE FOR LIKE RETAIL SALES GROWTH UP 3.5% Y/Y>

LONDON (MktNews) - The value of UK retail sales in February grew at its fastest rate in more than a year, according to the latest British Retail Consortium-KPMG retail sales monitor published Monday. The BRC said that like-for-like retail sales increased by 3.5% on a year earlier in February. It said that apart from April 2000, when the figures were distorted by the change in the timing of Easter, sales growth has not exceeded 3.5% since January 2000. Total sales in February increased by 5.7%, compared with 5.4% in January. The three-month trend in like-for-like sales rose to 3.3% from 2.8% in January while that for total sales was up 5.5% in the three months to February compared with up 5.1% in the three months to January. Bill Moyes, director general of BRC, said, "This month's figures show a welcome improvement in sales growth. However, the comparative weakness in sales of big ticket items such as furniture and electrical appliances suggests that consumer confidence is not as robust as would hope. Measures to strengthen consumer confidence are still needed."

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