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Average Annual UK Food Bill Set to Rise 454 Pounds as Inflation Soars
Date: July 19, 2022
By James Davey LONDON (Reuters) – UK grocery inflation hit 9.9% in the four weeks to July 10, adding 454 pounds ($543.7) to Britons’ annual bills amid a worsening cost of living crisis, industry data showed on Tuesday. Market researcher Kantar said the inflation rate was the second highest it has seen since it started...
Made.com Slashes Outlook on Britain’s Waning Big Ticket Demand
Date: July 19, 2022
LONDON (Reuters) -British online furniture retailer Made.com on Tuesday slashed its sales and earnings guidance for 2022, saying it did not expect an improvement in demand for big-ticket items any time soon. Confidence levels among Britain’s consumers sank to a record low last month as they struggle with the accelerating cost of living. Wages are...
Fans, Hoses and Air Con – Heatwave-Hit Britons Seek Relief
Date: July 18, 2022
LONDON (Reuters) – Sales of electric fans, hoses, air conditioning units and sprinklers are soaring as Britons swelter amid record temperatures, retailers said. Britain was on course for its hottest day on record on Monday with temperatures forecast to hit 40C for the first time, forcing train companies to cancel services, schools to close early...
Russians Buying Cheaper Food Items as Incomes Fall, Says Leading Retailer
Date: July 18, 2022
MOSCOW (Reuters) – Russians shoppers are switching to cheaper food items driven by a drop in real disposable income, the country’s leading food retailer X5 Group said on Monday, as high inflation crimps purchasing power. Though a stronger rouble and a drop in consumer demand have helped Russia rein in inflation, which soared to 20-year...
American Tourists Splurge in Paris Boutiques as Euro Slides
Date: July 15, 2022
By Mimosa Spencer and Doyinsola Oladipo PARIS (Reuters) – American tourist Shawna Wilson says she has splashed out on four dresses at the high-end LVMH-owned department store La Samaritaine in Paris, tempted by the prices as the euro reached parity with the U.S. dollar. The euro tumbled below $1 on Wednesday for the first time...
Burberry Held Back by China Lockdowns and U.S. Weakness
Date: July 15, 2022
By Paul Sandle LONDON (Reuters) -Luxury brand Burberry was hurt by lockdowns in its biggest market China and an abrupt reversal in fortunes in the Americas, limiting its first-quarter sales rise to 1%. The British brand, known for its red, black and camel check and TB monogram, saw comparable sales in mainland China plunge 35%...