Retail sales bounce back in February: CBI

Clothing retailers returned to growth in the year to February, after recording a disappointing January.

A balance of 33% of clothing retailers experienced sales growth in February, according to the CBI Monthly Distributive Trades Survey. In January, a balance of 55% of retailers recorded declines.

Overall retail sales growth beat expectations over the month, with sales growing for the ninth consecutive month.

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“The high streets have kicked on once again this month, with growth the strongest since the summer of 2012,” said Barry Williams, Asda chief merchandising officer for food, and chair of the CBI Distributive Trades Survey Panel.

“There is growth across many sectors, including grocers and clothing outlets, while investment intentions are at their highest for more than three years. Although we are by no means seeing a universally confident shopper, the positive indicators have perhaps given some people the urge to spend.

“Overall sales have been remarkably resilient in the face of disruption from the exceptional weather across the UK, which has badly affected many families and businesses.”

 

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