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Retailer next defies British economic gloom, lifts outlook
Date: August 4, 2022
By Kate Holton LONDON (Reuters) -Retailer Next, a bellwether of British consumer spending, expects the country’s high level of employment to protect the economy from a 1990s-style recession and said it was not yet seeing signs of customer financial distress. Britain is heading for double-digit inflation later this year and food retailers say customers are...
Retailer next defies British economic gloom, lifts outlook
Date: August 4, 2022
By Kate Holton LONDON (Reuters) -Retailer Next, a bellwether of British consumer spending, expects the country’s high level of employment to protect the economy from a 1990s-style recession and said it was not yet seeing signs of customer financial distress. Britain is heading for double-digit inflation later this year and food retailers say customers are...
Dutch retailer SPAR to enter Israeli market amid soaring living costs
Date: July 25, 2022
By Steven Scheer JERUSALEM (Reuters) – Israeli businessman Amit Zeev said he has signed a preliminary deal to bring Dutch food retail chain SPAR to Israel, a move that would create more competition and potentially lower food costs that have soared in recent months. Zeev was most recently chief executive of Yeinot Bitan, one of...
French retailer leclerc warns it could cut hours to cope with energy shortage
Date: July 25, 2022
PARIS (Reuters) -The boss of Leclerc warned on Monday that the supermarket chain, France’s largest food retailer, could reduce the opening hours of its stores as part of emergency measures to deal with the risk of power shortages linked to the war in Ukraine. “For this winter we have a crisis scenario where Russia cuts...
Amazon takes on britain’s tesco with price match scheme
Date: July 18, 2022
LONDON (Reuters) – Amazon, seeking an edge amid a deteriorating cost of living crisis, will match UK grocery market leader Tesco’s prices on hundreds of products, it said on Monday. The new scheme from Amazon Fresh, which delivers groceries to Amazon Prime members, will match its prices to Tesco Clubcard deals on everyday items, including...
Fashion retailer H&M joins TJX, others in exiting Russia
Date: July 18, 2022
By Supantha Mukherjee STOCKHOLM (Reuters) -H&M, the world’s second-biggest fashion retailer, said on Monday it had decided to wind down its business in Russia, joining a growing list of companies fully exiting the country and sending its shares down 1%. The company suspended its business in Russia in early March in the wake of Western...