UK retail sales ‘strongest for three years’

<p>UK retail sales have hit a three-year high.</p>

Data released by the latest British Retail Consortium (BRC)-KPMG Retail Sales Monitor has shown retail sales in the UK have hit their highest point in the last three years.

UK retail sales values were up 2.7 per cent on a like-for-like basis from February 2012, it was revealed by the study.

On a total basis, sales were found to be up 4.4 per cent, which is against a 2.3 per cent rise in February 2012.

Commenting on the release of the data, director-general of the BRC Helen Dickinson stated it is "reassuring" to see the momentum built within the sector in January continued last month.

She said: "There are certainly highly-welcome signs here of gradual improvement and customers feeling a bit more positive. February saw growth across all parts of retailing."

Retailer Debenhams recently confirmed it expects profits to be down in 2013, which led to a 13 per cent drop in its share price yesterday (March 4th) as markets responded to the news.

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