To: BubbaFred who wrote (27725 ) 4/18/2005 10:07:13 AM From: mishedlo Respond to of 116555 London retail sales hold up in March - BRC Monday, April 18, 2005 10:53:29 AMafxpress.com LONDON (AFX) - High street spending in London held up during March as retailers enjoyed the usual Easter boost, the British Retail Consortium said The BRC said like-for-like retail sales, which exclude the impact of new stores or additional retail space, during the month climbed 0.01 pct from the same month the previous year Though London underperformed the rest of the UK for the fourth consecutive month, the BRC said March's figure compared well with February's equivalent 0.4 pct decline. The three-month trend rate of growth in March stood at a 0.1 pct decline from a 0.9 pct decrease in February In addition, the BRC noted that the sharp gain in March 2004 distorted the year-on-year comparison. Sales in March 2003 had been badly hit by the SARS crisis as well as the closure of the Central Line, one of the capital's most important metro lines "Many retailers did enjoy the usual Easter week boost, which lifted the figure out of February's negative territory and this was helped by good weather, some discounting and the increase in visitor numbers and tourist spending," said Kevin Hawkins, the BRC's director-general However, Hawkins noted that big-ticket items, especially furniture and electrical goods, continued to suffer in March as consumers remain cautious about over spending and anxious about the threat of further interest rate increases "There are some challenging times ahead for retailers all over the UK, and London is no exception," he added In its monthly retail sales monitor earlier this month, the BRC found that like-for-like sales increased 1.8 pct in March from the previous year, way ahead expectations of a 0.1 pct increase. In February, sales were down 0.3 pct