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UK retail sales suffer after snowy winter
Friday, February 19th, 2010The weather was one factor in the surprisingly sharp sales drop
Poor winter weather drove UK retail sales down by 1.8% between December and January, the sharpest drop in 18 months, official figures have shown.
The fall was more than three times faster than analysts had forecast.
However the figures were weighed down by the inclusion of petrol […]
Nestle predicts higher growth for 2010
Friday, February 19th, 2010Nestle has reported a net profit of 10.4bn Swiss francs ($9.5bn; £6.2bn) for 2009 and said it expected to achieve higher growth this year.
The profit fell below the 18bn francs the Swiss giant made in 2008, which included profits from the sale of part of its stake in eye care company Alcon.
Sales rose by 4.1% […]
Falling food prices drive lower CPI inflation
Tuesday, September 15th, 2009The Consumer Prices Index annual inflation rate fell to 1.6% in August compared to 1.8% in July.
The Retail Prices Index rate fell by 1.3% versus a 1.4% fall in July.
The Office for National Statistics reported that food and non-alcoholic drinks were among the biggest contributors to downwards pressure on the CPI.
“This was mainly due to […]
Debenhams on track to hit profits despite sales fall
Tuesday, September 15th, 2009Debenhams has forecast a rise in annual profit despite store revamps impacting on the retailer’s sales.
The department store said that like-for-like sales fell 3.8% in its second half to August 29, compared with a decline of 3.6% for the full year.
Debenhams will complete the conversion of 530,000 sq ft of trading space from concessions to […]
UK booze duty rises will ‘lead to job cuts’
Thursday, April 23rd, 2009
The increase in alcohol duty will force more wine and spirit businesses to cut back on jobs and investment, Tim How, the new chairman of the Wine and Spirit Trade Association (WSTA)warned today.
The warning comes as the latest industry figures confirm falling sales in both on- and off-trades as consumers look to reduce spending.
Speaking […]
Gap sales continue to slide
Thursday, April 9th, 2009Gap sales have continued to fall 6 per cent for the five weeks to April 4 on last year with comparable sales down 8 per cent.
Comparable store sales in March, although down, were an improvement on the same period last year when like-for-like sales dived 18 per cent.
International sales, including the UK, were down 5 […]
Retailers concerned over rate supplements
Monday, January 12th, 2009Extra business rate supplements could push up annual costs paid by retailers to £7bn, the British Retail Consortium (BRC) argued today.The BRC said supplements, added to business rates revaluation and the loss of empty property relief, will mean retailers will be under increased pressure when times are already tough.Director general Stephen Robertson said: “Many retailers […]
Shares tumble as recession fears deepen
Monday, October 27th, 2008London’s FTSE 100 fell 5.6% to 3,665 at one point today, this represents the lowest level since April 2003 as investors continue to worry about the global economic slowdown.
Investors’ fears were brought to light after last week’s news that the British economy shrank for the first time since 1992, according to figures from the Office […]
Zara takes global fashion top spot
Wednesday, August 13th, 2008Zara has overtaken Gap to become the largest fashion retailer by sales in the world.
The Spain-based Inditex chain edged ahead of US-based retailer Gap as Zara’s sales rose 9 per cent to €2.22 billion (£1.75 billion) in the first quarter of it financial year.
For the same period sales at Gap dropped 10 per cent to €2.17 […]