Bad weather hits February retail sales
Retail sales in February have been damaged by the wet weather.
Retailers in the UK saw sales drop during February as a result of the wet weather experienced by much of the country during the month.
Large parts of the south of England were affected by flooding due to excessive rain and this hurt retail sales, according to the latest data from the British Retail Consortium (BRC) released today (March 11th).
The body and KPMG's Retail Sales Monitor for last month revealed that there was a one per cent drop in like-for-like sales compared to February 2013.
On a total basis, sales were shown by the report to be up 0.7 per cent, which was against a 4.4 per cent increase last year.
Director-general of the BRC Helen Dickinson stated that it is clear from the new data that the consumer-led recovery is still developing.
She said: "However, this slower growth might have been expected in some ways, given the record sales figures we saw in January and the strong results that we are comparing against from last year."
At 09:44 GMT this morning, the FTSE 100 is down by 0.32 per cent on the start of the day.
Find up to date information on the FTSE 100 and spread betting strategies at City Index
Latest market news
Yesterday 03:00 PM
Yesterday 01:12 PM
Yesterday 11:14 AM