RETAIL sales flatlined last month as shoppers cut back on food and drink spending, it was revealed today.
Figures showed no growth between February and March whereas analysts were expecting a 0.3 per cent uptick.
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Hardware and furniture shops, petrol stations and fashion retailers did see a lift but the gains were wiped out by a 0.7 per cent fall in food shop sales.
Analysts had hoped supermarkets would improve at Easter.
Shoppers also shunned higher prices in department stores which saw a 3.8 per cent drop, revealed the Office for National Statistics (ONS).
Oliver Vernon Harcourt, of analysts Deloitte, said: “Retailers had expected a bigger boost from an early Easter bank holiday weekend.”
However, over the three months to the end of March retail sales volumes rose 0.8 per cent.
That was the strongest since the summer of 2022, signalling the start of a recovery for retailers.
Heather Bovill, of the ONS, said: “Looking at the longer-term picture, retail sales increased after a poor Christmas.”
Some analysts, meanwhile, said the ONS figures should be taken with a “pinch of salt” because the statistics body had adjusted for Easter falling in March, earlier than usual.
NOT SO NAPPY
PARENTS are shunning expensive Pampers nappies, maker Procter & Gamble revealed.
The US consumer giant raised prices of baby products by another 2 per cent in the past three months but its sales volumes dropped by 3 per cent.
Overall P&G made £16billion profit in the last quarter.
HILL SALES UP
THE owner of William Hill said sales were “slightly ahead” despite a slowdown at betting shops.
The gambling firm, which is changing its name to Evoke, said revenues were down 3 per cent to £431million over the past three months.
It expects to return to growth next quarter.
Good week
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RANK GROUP boss John O’Reilly was hailed over a Mecca bingo halls bounce after hard times since Covid.
Bad week
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DR MARTENS boss Kenny Wilson is leaving after the boot firm’s fifth profit warning since listing.
