Slower Sales and Declining Non-Food Items Amidst Political Turmoil

  • February retail growth slowed down due to Brexit uncertainty
  • Total sales increased by 0.5% compared to 1.6% in February 2018
  • UK retail sales decreased by 0.1% on a like-for-like basis from February 2018
  • In-store sales of non-food items declined 2.8% on a total basis and 3.1% on a like-for-like basis
  • Online sales growth was below the 12-month average at 5.4%
  • BRC chief executive Helen Dickinson urges government to address Brexit concerns
  • KPMG’s Paul Martin says political and economic uncertainties are affecting consumer spending habits

The British Retail Consortium (BRC) has reported that the growth of UK retail sales slowed down in February due to Brexit uncertainty. Total sales increased by 0.5% compared to 1.6% in February last year, falling below both the three-month and 12-month averages of 0.9% and 1.2%. Like-for-like sales dropped by 0.1%, contrasting with a 0.6% increase from the previous year. Over the past three months, in-store non-food items declined 2.8% on a total basis and 3.1% on a like-for-like basis, surpassing the 12-month average decline of 2.4%. Online sales of non-food products grew by 5.4%, down from a 6.4% increase in the previous year and below the three-month average of 5.6%. BRC’s Helen Dickinson stated that Brexit uncertainty has affected consumer spending, while KPMG’s Paul Martin noted that political and economic uncertainties are influencing shoppers’ habits.

Factuality Level: 8
Factuality Justification: The article provides accurate information from the British Retail Consortium (BRC) about retail sales growth in February and quotes experts’ opinions on the impact of Brexit uncertainty on consumer spending. It presents relevant data and statistics to support its claims.
Noise Level: 3
Noise Justification: The article provides relevant information about the impact of Brexit uncertainty on UK retail sales but could benefit from more in-depth analysis or context beyond just quoting experts’ opinions.
Financial Relevance: Yes
Financial Markets Impacted: UK retail sector
Financial Rating Justification: The article discusses the impact of Brexit uncertainty on UK retail sales growth, which affects companies in the retail industry and can potentially influence consumer spending habits.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.

Reported publicly: www.retailsector.co.uk