Retailers have been given a welcome confidence boost this morning with the news that last month's retail sales enjoyed the strongest growth for three years.
New figures released by the British Retail Consortium show that the value of like-for-like sales was up 2.7% on February last year, when they were down 0.3% on the preceding year. And overall sales increased by 4.4%, against a 2.3% rise in February 2012.
The BRC says the total sales growth is the best since February 2010, while like-for-like sales showed the best result since December 2009.
The snowy weather hit DIY sales in February, but the BRC says bedroom furniture, sofas and beds were amongst the standout performers, with many products achieving full price.
Online sales were up 10.9% over February 2012, when they had risen by 9.9%. Click-and-collect did well for many multichannel retailers as shoppers give the thumbs-up to the convenience of picking up at a time that suits them. Mobile also continues to grow fast, but from a small base.
Said BRC director general Helen Dickinson: "After the disappointing figures that brought 2012 to a close, it's reassuring that the sales momentum established during an encouraging January has built, not faded. There are certainly highly-welcome signs here of gradual improvement and customers feeling a bit more positive. February saw growth across all parts of retailing, with big-ticket goods and items for the home recovering particularly well, possibly reflecting better conditions in the housing market."
However, she warned that it was too soon to assume it represented a permanent turnaround.
"This month's Budget gives the government a great opportunity to act to secure real and lasting revival from what could be no more than a short-lived lift," she said. "Retail is central to generating the growth and jobs so critical to the UK's economic recovery but weak consumer confidence is the real and present obstacle.
"Consumers need a Budget that leaves them with more money in their pockets and the confidence to spend it, and retailers with the means to invest. I hope the Chancellor seizes the moment."