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Britons Seek Cheaper Grocery Options as Inflation Bites – NielsenIQ
Date: June 28, 2022
By James Davey LONDON (Reuters) – Britons are shifting to cheaper food alternatives in their supermarket shopping as they try to navigate a worsening cost of living crisis, industry data showed on Tuesday. Market researcher NielsenIQ said that over the four weeks to June 18 sales of frozen poultry rose 12% year-on-year, sales of rice...
Britain’s Asda Supermarket Says Shoppers Buy Less, Seek Cheaper Items
Date: June 24, 2022
LONDON (Reuters) – About two fifths of customers at Britain’s Asda supermarkets are buying less and swapping branded items for Asda-brand products where possible to save money amid a worsening cost of living crisis, the retail chain said on Friday. Britain’s households are struggling to keep pace with inflation which hit 9.1% in April, its...
Pound Gets a Lift From Smaller Retail Sales Decline, Weak Dollar
Date: June 24, 2022
By Lucy Raitano LONDON (Reuters) – Sterling edged up against the dollar on Friday and was set for its first weekly rise in four weeks, as a weaker greenback and better-than-expected retail data allowed investors to look past mounting pressure on British Prime Minister Boris Johnson. Data on Friday showed retail sales volumes in May...
European Retail Shares Slide to Lowest Since Outbreak of Covid Crisis in 2020
Date: June 24, 2022
LONDON (Reuters) – European retail stocks fell on Friday to their lowest level since the onset of the COVID-19 pandemic in 2020, hit by a profit warning from online fashion retailer Zalando and data showing consumer confidence in Britain has hit a record low. The STOXX 600 retail sector, poised for its fourth consecutive week...
European Stocks Eye Weekly Gains as Defensives, Tech Shine
Date: June 24, 2022
By Sruthi Shankar (Reuters) -European stocks rose on Friday, led by defensive and technology names, as investors pivoted to safer bets amid growing worries that tighter monetary policies and surging inflation will cause a global recession. The pan-European STOXX 600 index rose 1.1% after hitting a fresh 2022 low in the previous session when weaker-than-expected...
Britons, Shaken by Cost-Of-Living Squeeze, Cut Back on Shopping
Date: June 24, 2022
By William Schomberg LONDON (Reuters) -British consumers cut back on shopping in May in the face of fast-rising inflation, and a measure of their confidence sank to a record low this month, according to data that underscored the scale of the cost-of-living squeeze. The Office for National Statistics said on Friday that sales volumes in...