Friday 26th March 2021 - 09:37 (GMT)
Figures released by The Office for National Statistics (ONS) have indicated UK retail sales rose 2.1% over February as the country prepares for lockdown measures to ease. Largely driven by outdoor furniture and DIY sales, the latest readings are a stark contrast to the 8.2% fall seen over January.
Online retail reached record levels and there is now growing hope that pent-up demand will help push next months figures even higher. Home office related products also added to the positive numbers as working from home looks set to remain for many organisations.
It wasn’t all positive news as clothing sales remained low - with just 50% of stock moving through the tills compared to 2020. However, analysts believe the sector should stage a recovery when travel restrictions are lifted.
Februarys readings come against a backdrop of mixed fortunes for traditional bricks and mortar retailers. Kingfisher, owner of B&Q and Screwfix, recently reported bumper growth over its latest financial year - with underlying profits jumping 44%.
Conversely, John Lewis announced it would not be re-opening eights of its stores once the latest lockdown comes to an end. This followed its decision not to award a bonus to staff / partners for the first time since 1953.
