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UK retail sales return to growth despite lockdown

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Retail sales in the UK grew 1% last month compared with the same period last year, according to KPMG and the BRC, a sharp reverse of a 1.3% year-on-year contraction in January. But Paul Martin, UK head of retail at KPMG, said Rishi Sunak’s budget last week offered only short-term help for retailers. “Conditions will continue to be incredibly challenging as they face subdued demand, thinner margins and rising logistics costs, alongside the accelerated structural changes to the sector,” Martin said.

 

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