THE value of UK retail sales last month was up 1.7 per cent on the same month of 2014, marking a slight acceleration in year-on-year growth, the latest industry figures have shown.
However, retail sector expert David McCorquodale highlighted the weak comparative figures for February last year, when bad weather hit trading, and also flagged up continuing pressure on food retailers.
The value of food sales in the three months to February was up by 0.5 per cent on the same period a year earlier, according to the survey published today by the British Retail Consortium.
However, stripping out the beneficial impact of net expansion of retail space, food sales in the three months to February were down by 1.6 per cent on a year earlier on like-for-like basis.
Edinburgh-based Mr McCorquodale, head of accountancy firm and BRC survey sponsor KPMG's UK retail sector practice, said: "Activity on the high street has settled into a monotonous equilibrium, with falling like-for-like food sales persistently wiping out any meaningful like-for-like growth the non-food sector manages to achieve."
He added: "Whilst the 0.5 per cent growth in quarterly food sales is the highest since January 2014, it seems that, overall, the wider economic recovery is bypassing the retail sector. With interest rates and inflation remaining low, it's surprising more consumers aren't treating themselves to a new pair of shoes or curtains for the home.
"One suspects that restaurateurs, not retailers, are benefiting from the extra cash in consumers' pockets resulting from fuel price savings."
The BRC survey had shown that, in January, the value of UK retail sales was up by 1.6 per cent on the same month of last year.
Figures for retail sales in Scotland in February will be published next week.
The Scottish Retail Consortium said last month that the value of sales north of the Border in January had been down by 2.3 per cent on the same month of last year.
Mr McCorquodale highlighted some strength in sales of clothing, furniture and household goods in the UK in February.
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