Author Topic: UK sales down - again  (Read 1178 times)

Offline Ellipses

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UK sales down - again
« on: July 23, 2015, 06:51:18 AM »
There has been an 'unexpected' fall in retail sales as shoppers cut back on household goods, food and fuel.

Retail figures showed a surprise fall

The Office for National Statistics (ONS) said retail sales fell 0.2% between May and June, confounding forecasts for a rise of 0.4%, while the annual rate of growth slowed to 4%.

This marked the slowest annual growth since last September and came despite another fall in prices and as consumers are being boosted by wages rising above inflation.

The figures come ahead of next week's initial estimate for overall UK growth in the second quarter, with economists looking for a pick-up on the 0.4% rise in gross domestic product (GDP) reported in the first three months of 2015.

Howard Archer, chief UK economist at IHS Global Insight, said despite the fall in sales last month, "consumer spending made a healthy contribution to GDP growth".

He expects GDP to rise to 0.7% in the second quarter.

It's growth Jim, but not as we know it ;D



Offline Ellipses

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Re: UK sales down - again
« Reply #1 on: September 21, 2015, 07:47:51 AM »
The affordability of 'urban chic'?

Fashion retailer French Connection sank deeper into the red today after a poor UK sales performance over the spring extended into the following months.

Shares fell 6% as the group reported a pre-tax loss of £7.9 million for the six months to the end of July, compared to a loss of £3.9 million in the same period a year ago.

The group had admitted in April that it was struggling. It shut six stores during the six month period and plans three or four more closures during the second half.

Total revenues were down 9.8% to £75.8 million while like-for-like store sales in the UK and Europe slumped by 10.7%.

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Re: UK sales down - again
« Reply #2 on: September 21, 2015, 11:38:10 PM »
Unions in the UK have expressed dismay at plans to cut 400 jobs at digger manufacturer JCB, warning that a downturn in world markets, including China, could lead to more losses.

Market conditions in the construction equipment sector have worsened in recent weeks, leading to the announcement.

Gordon Richardson of the GMB union said: "These staff job losses are the first ripple from the downturn in world markets, including China, impacting on the UK economy.

"This huge wave of uncertainty is likely to lead to further job losses in the sectors that trade with the rest of the world.

"GMB will do everything we can to avoid compulsory redundancies and to mitigate the impact on the workforce."

JCB said it had started a consultation process with staff over proposed redundancies following a "rapid deterioration" in world construction equipment markets.

A statement said: "The slowdown in recent weeks has been marked, particularly in the emerging markets, resulting in a sharp fall in machine orders.