Poor figures from John Lewis, and a slowdown at Tesco and Sainsbury’s has raised fresh concerns that the uncertain political climate is taking its toll on consumer confidence this Christmas. December is the most lucrative time of the year for the retail sector but John Lewis said sales in its department stores fell by more than 5% last week. The picture from its fashion and homewares divisions was even weaker, with sales in both down by about 7%. Last week Primark warned of “challenging” trading conditions as fewer shoppers visited its stores. That pattern was borne out by figures from the retail research group Springboard which showed the number of shopper visiting the high street fell by 3.2% last month. Clive Black, an analyst at Shore Capital, said the “political shenanigans would not cancel Christmas” but cautioned that profits at the large listed grocery chains could be hit if the subdued consumer activity persisted. “We have a worried nation … resulting in low consumer confidence and cautious spending pattern,” he said. Although Britons are stocking up for the big day, spending nearly £300m on boxes of chocolates and £18m on brussels sprouts, the latest data from analysts at Kantar Worldpanel… Read full this story
- Data breach takes toll on Target profit
- Budget suggests Thruway, Tappan Zee Bridge toll hikes
- Discounts, online competition take toll on retailers
- Economic growth slowing in China and India, data suggests — is their boom over?
- Missing Malaysia Airlines Flight MH370 may have been flying further south, call data suggests
- Dog days taking toll on Yankees
- Iran offers to talk nukes with European Union as sanctions take toll
- New bridge traffic will take toll on New Albany
- Bad publicity takes toll on Carnival earnings
- School security threats take toll on students, staff
Retail data suggests UK political turmoil taking its toll this Christmas have 296 words, post on www.theguardian.com at December 11, 2018. This is cached page on Asean Breaking News. If you want remove this page, please contact us.