UK sales frozen solid
Retail sales in the UK suffered their biggest drop since last July as cold weather and a late Easter hit the High Street. The British Retail Consortium (BRC) said that like-for-like sales fell 1.4% compared to the same time last year.
“A very cold March put people off buying their summer wear and the recent upward trend in house prices has not yet fed through into the DIY sector,” said City analyst Colin Perry.
“Nor is there any sign of the expected surge in consumer spending predicted by the Bank of England,” he added.
“People are looking after their money more carefully, what with increased utilities bills and council tax. Retailers just have to lump it at the moment.”