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March 28, 2022

ONS survey finds UK retail sales fell by 0.3% during February

The proportion of retail sales online fell to 27.8% during the month, its lowest since March 2020.

Data from the UK’s Office for National Statistics (ONS) has revealed that retail sales in the country dropped by 0.3% last month.

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The decline in sales comes after the UK’s sales volume grew by 1.9% in January.

During the month, non-store retailing sales volumes fell by 4.8% compared with a growth of 4.0% in the previous month.

Food store sales volumes declined by 0.2%, but non-food store sales volumes rose by 0.6% driven by a 13.2% growth in clothing and 1.3% increase in department stores.

In addition, automotive fuel sales volumes increased by 3.6% during the month.

Online retail sales dropped by 27.8%, last month which is the lowest proportion since March 2020, when a 22.7% decline was recorded. 

British Retail Consortium (BRC) chief executive Helen Dickinson said: “Sales growth fell slightly in February as rising concerns about inflation appeared to dampen consumer appetites.

“Stronger sales results could be seen for clothing and footwear, while food spending remained down on last year for the second consecutive month.

“Online sales fell as compared to last year, when the country was in its third lockdown, as more people returned to the shops.

“Nonetheless, as competition for limited consumer spending increases, retailers must continue to invest in their physical and digital offerings.

“Consumers face a rocky road ahead, with rises in the energy price cap and national insurance contributions both coming next week.

“Meanwhile, confidence has been knocked by the continued rise in inflation, as well as the uncertainty created by the situation in Ukraine.”

Earlier this month, the BRC reported that UK retail sales grew by 6.7% on a total basis last month compared with a 1.0% increase in February last year.

This was above the three-month average growth of 6.5% but below the 11.3% average increase usually reported on a 12-month basis.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
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  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
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by GlobalData
Enter your details here to receive your free Report.