Tag: consumers

UK consumer confidence dips further in July

UK consumer confidence dips further in July

A survey of 2,000 individuals, conducted between July 1 and 10, has revealed a fall in consumer confidence. According to the survey of consumer attitudes, carried out by GfK NOP Social Research, confidence dived by 5 points to -30 in July – edging closer to the -31 seen in April. The index was also worse [...]

July 29, 2011 | 0 Comments More
FSB calls for VAT cut

FSB calls for VAT cut

The Federation of Small Businesses (FSB) is urging the Government to cut the rate of VAT in core sectors of the economy. The suggestion comes after the FSB’s latest Business Confidence Report, which saw a sharp fall in sentiment during the second quarter. VAT was raised to 20% earlier this year to raise billions of [...]

July 18, 2011 | 0 Comments More
BRC: Retail sales down 0.6% in June

BRC: Retail sales down 0.6% in June

Retail sales fell in June as households continue to be squeezed by higher inflation and rising unemployment. According to the British Retail Consortium (BRC)/KPMG retail sales monitor, sales fell by 0.6% on an underlying basis last month, while total sales (including VAT) rose 1.5%. Food sales growth eased a little last month but a strong [...]

July 12, 2011 | 0 Comments More
Debenhams reports rise in half-year sales

Debenhams reports rise in half-year sales

Debenhams, which is Britain’s second largest department store after John Lewis, today brought some much-needed good news to the retail sector after reporting an increase in second half-sales. The retailing giant said sales at stores open more than a year, excluding VAT sales tax, were 1.5% higher in the 17 weeks to June 25. It [...]

June 30, 2011 | 0 Comments More
TJ Hughes on verge of administration

TJ Hughes on verge of administration

Department store chain TJ Hughes has today revealed it is set to enter administration. The Liverpool-based store has more than 50 outlets across the UK and has a headcount of 4,000 – which are all at risk. The company said it will be appointing an administrator over the next week or so, unless a buyer [...]

June 28, 2011 | 0 Comments More
Dixons like-for-like sales 2% lower

Dixons like-for-like sales 2% lower

Electrical goods retailer Dixons has today reported like-for-like sales fell 2% in the year to April. The results come just a day after fellow electrical goods chain Comet said sales fell 6.8% for the 12 month period. The figures are evidence of consumers reining in their spending and opting not to purchase big-ticket items at [...]

June 23, 2011 | 0 Comments More
Sainsbury’s reports strong sales despite challenging environment

Sainsbury’s reports strong sales despite challenging environment

June 15, 2011 | 0 Comments More
Argos reports sharp fall in sales

Argos reports sharp fall in sales

There is further evidence of consumers reining in their spending after Home Retail Group (HRG), the biggest household goods retailer, said sales fell 9.6% in the 13 weeks to the end of May. Shares in HRG sank 11% after the announcement – a 2½ year low – after it said trading conditions were challenging and [...]

June 9, 2011 | 0 Comments More
BRC: Retail sales fall in May

BRC: Retail sales fall in May

Higher inflation has led to a fall in retail sales for the month of May, according to the British Retail Consortium (BRC) today. The fall was also attributed to consumers overspending in April due to the long bank holiday weekends and hot weather. The BRC said annual like-for-like retail sales fell by 2.1% in May [...]

June 7, 2011 | 0 Comments More
CBI: UK service sector firms show cautious optimism

CBI: UK service sector firms show cautious optimism

A survey by the CBI has revealed consumer service firms have been hit by a cut back on spending. According to the CBI, firms such as hotels, bars and restaurants, saw evidence of weak demand but are optimistic about future prospects as conditions are not expected to be as challenging in the coming quarter. Meanwhile, [...]

May 26, 2011 | 0 Comments More
Halfords and Carpetright issue profit warnings

Halfords and Carpetright issue profit warnings

Retailers Halfords and Carpetright have both issued profit warnings, as UK consumers are squeezed in the face of rising inflation and Government spending cuts. Car parts and bicycle retailer Halfords lowered its 2011 estimate for profits before tax to £124 million-£127 million, down from £127 million announced earlier this year. The retailer blamed the “tougher [...]

April 7, 2011 | 0 Comments More
M&S reports better than expected sales

M&S reports better than expected sales

British retailing giant Marks and Spencer (M&S) has today reported like-for-like sales, which strip out new store openings, grew 0.1% in the 13 week period to 2 April. The figures were marginally better than expected and sent shares up 13.3p today to 353.5p. The 127-year-old retailer which sells clothes, food and homewares said general merchandise [...]

April 6, 2011 | 0 Comments More
ONS: UK retail sales fall in February

ONS: UK retail sales fall in February

Retail sales fell last month - by a bigger than expected 0.8% on a monthly basis, the Office for National Statistics (ONS) has reported today. The fall followed a downwardly revised gain of 1.5% in January. Sales growth for January was attributed to heavy discounts and a rush to beat the VAT hike, which came [...]

March 24, 2011 | 0 Comments More
Next warns of challenging times ahead

Next warns of challenging times ahead

Next, which is Britain’s second largest fashion retailer, has today said consumers are tightening their purse strings in the face of soaring inflation and Government spending cuts. The retailing giant announced record profits but has warned of challenging times ahead for the High Street. It shares jumped 5% earlier today after posting record profits of [...]

March 24, 2011 | 0 Comments More
BRC: Retail sales down in February

BRC: Retail sales down in February

Retail sales fell last month - providing further evidence of a fragile economic recovery. According to the British Retail Consortium (BRC)/KPMG retail sales monitor, like-for-like sales fell 0.4% in February on an annual basis after a 2.3% rise in January. The trade body attributed the fall to the ongoing squeeze on household incomes as fears [...]

March 8, 2011 | 0 Comments More
Primark warns of challenging times

Primark warns of challenging times

Discount clothing retailer, Primark, has today warned of a slowdown in consumer spending, as Britons prepare to cut back amid rising unemployment and higher inflation. According to Primark’s parent group, Associated British Foods (ABF), “a noticeable slowing down of UK consumer demand” is evident despite strong trading in the first three months of the financial [...]

February 28, 2011 | 0 Comments More
OFT to launch investigation into card surcharges

OFT to launch investigation into card surcharges

Consumer group Which? is concerned about surcharges imposed on to consumers who pay by debit or credit cards. It has therefore asked the Office of Fair Trading (OFT) to investigate the matter - which sees retailers, local authorities, estate agents and cinemas all impose the charges. However, the “worst offenders” are said to be budget [...]

February 11, 2011 | 0 Comments More
John Lewis reports further slowdown in weekly sales

John Lewis reports further slowdown in weekly sales

The slowdown in consumer spending looks set to continue after the John Lewis Partnership, which is regarded as a barometer of British retailing, reported a further fall in weekly sales. The renowned employee-owned chain said department store sales fell 0.9% o £49.5 million in the week to 29 January. In the week to 22 January, [...]

February 4, 2011 | 0 Comments More
John Lewis sees slowdown in weekly sales

John Lewis sees slowdown in weekly sales

The John Lewis Partnership, which is regarded as a barometer of British retailing, has revealed sales slowed in the week to 15 January - attributed to the VAT hike from 17.5% to 20%. In the previous week, the renowned employee-owned department store said the bank holiday, on Monday 3 January, saw shoppers buy furniture and [...]

January 21, 2011 | 0 Comments More
VAT rate rises today to 20%

VAT rate rises today to 20%

The rate of VAT will today rise from 17.5% to 20% as the Government looks to raise billions of pounds in order to trim the UK’s budget deficit. While many are prepared for the increase, retail sales are expected to be hit as consumers are expected to cut back on their spending over the coming [...]

January 4, 2011 | 0 Comments More