UK DATA: BRC: Feb Sales See Robust Year-On-Year Rises
–BRC: UK Feb Like-for-Like Sales +2.2% y/y; Total +4.5% y/y
–BRC UK Dec-Feb Like-for-Like Sales +2.1% y/y; Total +4.1% y/y
–BRC Says Sales Boosted By Weak Feb 2009
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UK retail sales saw renewed strong growth in February following
January’s weak outturn, which was due to a cold weather spell and the
hike in Value Added Tax, the British Retail Consortium reported Tuesday
in its Retail Sales Monitor. The BRC stressed, however, that the data
were bolstered by base effects. The BRC said that sales were boosted by
the poor performance of retailers in February 2009, when like-for-like
sales had dropped 1.8%, hit by snow and consumer caution. In February
2009 sales had risen just 0.1%.