UK retail sales bounce back in February

Shopping: Last month’s increase in sales follows two months of decline

Retail sales rose last month, following two months of decline, according to new figures from the Office for National Statistics.

Sales rose by 0.8% when compared with January, with increases seen across all sectors other than non-food stores.

The monthly increase follows declines in December and January, resulting in an overall decrease of 0.4% in the three months to February.

The year-on-year growth rate increased by 1.5%

ONS senior statistician Rhian Murphy said: “Store prices continue to rise across all store types, but at a lower rate than the previous month due to a slowdown in price growth, though clothing and household goods stores continued to see stronger price rises.”

Euan Murray of Barclays Corporate Banking Scotland said consumer confidence remained low.

“Online sales are yet again flourishing and the strengthening of sterling this year is beginning to ease some of the problems caused by increased supply chain costs for many businesses,” he added.

Meanwhile fashion chain Ted Baker warned of a beast from the east hit to spring sales, but posted a hike in annual profits after shrugging off the tough trading conditions hammering rivals.

The group said unseasonable weather across the UK and Europe, as well as on the east coast of America, had knocked recent trading and warned over “challenging” conditions in many of its global markets.

Ted Baker posted a 12.3% surge in pre-tax profits to £68.8 million for the year to January 27.

Ted Baker’s profits took flight last year, rising by 12.3%.