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Top StoriesUK Retail Sales Slump as Inflation Rises, Spending Shifts – Cbi
Primark to Raise Prices as Cost Pressures Mount
Date: April 26, 2022
By James Davey LONDON (Reuters) -Budget fashion chain Primark will raise prices as it battles severe inflationary pressures, its parent Associated British Foods said on Tuesday, as it also warned on the margin outlook at its food businesses, sending shares lower. The group said Primark has been unable to fully offset the cost pressures it...
Asda, Morrisons Cut Prices of Key Items Amid British Spending Squeeze
Date: April 25, 2022
By James Davey LONDON (Reuters) – Asda and Morrisons said on Monday that they would cut the prices of essential items, ratcheting-up competition in Britain’s food retail sector against a backdrop of soaring inflation and slumping consumer confidence. Surging prices are causing the biggest squeeze on household incomes since at least the 1950s in Britain,...
Pound Tumbles to 18-mth Low as Retail Sales, Consumer Confidence Slump
Date: April 22, 2022
LONDON (Reuters) – Sterling fell on Friday to its lowest level since late 2020 against the dollar after dismal retail sales and consumer confidence data indicated dangers ahead for Britain’s economic growth. The pound fell below $1.29 for the first time since November 2020 to a low of $1.28815, and was last down 1.1% on...
UK Economy Stumbles as Consumers, Firms Brace for Downturn
Date: April 22, 2022
By Andy Bruce and William Schomberg LONDON (Reuters) – Britain’s economy is losing steam as households face a tightening cost-of-living squeeze, according to data published on Friday which showed sliding retail sales and consumer confidence approaching all-time lows. The pound slid by more than a cent to fall below $1.29 for the first time since...
More Britons Go Out Shopping and Dining Ahead of Easter – Ons
Date: April 21, 2022
LONDON (Reuters) -Britain’s consumers increased visits to retailers and leisure providers in the run-up to the Easter holiday weekend and bookings at restaurants were their strongest in seven months, according to data published by the country’s statistics agency. Visits to retail and recreation locations increased by 8% to 91% of their pre-coronavirus levels in the...
Carrefour Shares Fall as Retailer’s French Q1 Sales Disappoint
Date: April 21, 2022
PARIS (Reuters) -Shares in Carrefour fell nearly 4% on Thursday after Europe’s largest food retailer reported first-quarter sales that showed a lacklustre performance in its core French market, overshadowing more robust growth in Brazil. The French retailer said on Wednesday it was confident about its 2022 outlook, confirming a key cash flow target for the...