Retail sales continue to grow in the UK

By Jamie White

Retail sales grew strongly in the year to February, beating expectations, and at the fastest pace since June 2012, according to a new report.

CBI’s latest quarterly Distributive Trades Survey of 120 firms revealed that sales have grown for the ninth consecutive month, while retailers’ investment intentions for the year ahead were at their highest since November 2010.

Sales volumes were strong again among grocers, clothing and furniture and carpet retailers, but specialist food and drink recorded a fall in sales volumes for the second consecutive month. Sales were broadly in line for the time of year, while orders picked up, consistent with expectations, and firms anticipate they will strengthen again in the next month.

Internet sales volumes among retailers also maintained robust growth in the year to February.

Meanwhile, growth in retail sales in the year to March is expected to moderate from this month’s strong pace, but should remain robust nonetheless.

Barry Williams, Asda Chief Merchandising Officer for Food, and Chair of the CBI Distributive Trades Survey Panel said:  “The high streets have kicked on once again this month, with growth the strongest since the summer of 2012.”

“There is growth across many sectors, including grocers and clothing outlets, while investment intentions are at their highest for more than three years.”

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