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UK retail sales rebound in February

UK sales grew by 0.8% last month following a drop of 0.2% in January, new figures show today
UK sales grew by 0.8% last month following a drop of 0.2% in January, new figures show today

UK retail sales rebounded in February from the previous month, boosted by growth in food and online purchases, official data showed today. 

UK sales grew by 0.8% last month following a drop of 0.2% in January, the Office for National Statistics said in a statement. 

"The monthly increase to the quantity bought follows two monthly declines in December and January, resulting in an overall decrease of 0.4% in the three months to February," the ONS said. 

"Internet sales saw an increase in its proportion of all seasonally adjusted retailing in February when compared with January, accounting for 17.2% of all retail," it added.

With shoppers increasingly moving online, some retailers are being forced to axe stores and even close for business, having failed to react quickly enough to the fast-evolving e-commerce landscape. 

UK fashion chain New Look earlier this week revealed it had agreed a restructuring plan with creditors, resulting in 60 store closures and the loss of up to 980 jobs. 

Meanwhile the British arm of troubled retailer Toys'R'Us is winding down its activities, with the loss of more than 3,000 positions. It comes as the parent group shuts all its US stores. 

But companies that have adapted well to the rise of e-commerce are enjoying strong earnings. 

UK fashion brand Ted Baker today announced an 11% rise in total group sales.