U.K. Retail Sales Fall More Than Forecast Amid Snow Chaos
- Sales fall 1.2% in March, double the decline predicted
- Snow and freezing temperatures keep British shoppers indoors
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U.K. retail sales plunged in March as snow and freezing temperatures kept consumers indoors and disrupted deliveries of stock.
The data comes as a fresh blow to the British high street after a year of consumer pullback in the face of rising prices and sluggish wage growth. While pay and inflation data this week show tentative signs that the squeeze may be starting to ease, the weather disruptions have added to the problems facing big-name retailers such as department store Debenhams, which issued a profit warning Thursday amid weaker demand for discretionary items.