Retail sales continue on upwards trend ahead of Christmas shopping season December 15, 2016 The amount Britons spent in November increased 5.9 per cent year-on-year, according to figures from the Office for National Statistics (ONS). At £34.2bn for the four-week period, retail sales in November were up 0.5 per cent as compared to October. This equated to an average weekly spend of £8.5bn. The ONS said retailers selling household goods had boosted their [...]
Inflation rises to its highest in two years as weak sterling takes its toll December 13, 2016 The UK's inflation rate rose to 1.2 per cent in the year to November, up from 0.9 per cent in October – and beating expectations of 1.1 per cent. That puts it at the highest rate since October 2014, when it was 1.3 per cent. The rise was driven by hikes in clothing prices, motor [...]
Consumers are going to spend a record amount on supermarket premium ranges this Christmas December 13, 2016 Consumers have been preparing to taste the difference this Christmas as they stock up on supermarkets' premium own label brands. Data from Kantar Worldpanel showed that during the three months to the end of 4 December, shoppers spent 13 per cent more on brands such as Tesco Finest and Asda Extra Special than they did the year before. Read more: These [...]
Jump in a sea kayak and take to the iceberg infested fjords of Greenland December 9, 2016 The iceberg looming above me is the size of an apartment block, yet despite its enormity the frozen seascape is eerily silent. I am sitting in my kayak with eight other paddlers in one of Greenland’s enormous Arctic fjords. All that breaks the calm is the snap, crackle and pop of the ice. Then, as [...]
John Lewis sales bolstered by final Black Friday promotions December 6, 2016 John Lewis' sales over the past week received a boost from the final Black Friday promotions on offer. Sales for the week to 3 December increased 3.9 per cent year-on-year, the department store said, reaching £172.1m. Read more: Nespresso is teaming up with John Lewis to open two new boutiques Year-on-year, fashion and home sales [...]
Real Good Food’s shares plummeted as exec warns earnings could fall short of estimates December 6, 2016 Real Good Food reported sales growth but experienced losses following trouble with commodity pricing and weak sterling. Executive chairman Pieter Totté said "there is a risk" the company's earnings won't meet market estimates. The figures Total group sales for the Aim-listed ingredients and baking products company grew by 5 per cent to £49m, the company reported in its interim results for [...]
Black Friday wasn’t quite the sales boost retailers may have expected December 6, 2016 Black Friday wasn't quite the spending boom that retailers were expecting. Figures from KPMG and the British Retail Consortium (BRC) show that like-for-like UK retail sales increased 0.6 per cent in November. Read more: Piccadilly Line delays likely to continue until after Christmas, TfL admits And, although non-food sales increased around 40 per cent on [...]
Cost of the Christmas shop will be lower than it was three years ago December 5, 2016 Despite the worries about rising prices post-Brexit, the family Christmas shop is set to be cheaper this year than it was three years ago. Figures from the British Retail Consortium (BRC) and Nielsen showed that shop prices fell 1.7 per cent in November; the same level of deflation reported the month before. Read more: Chilly weather's [...]
Venezuela introduces new higher-value notes in response to the world’s highest rate of inflation December 4, 2016 Venezuela’s central bank has announced that it will introduce a new set of coins and notes as the country with the world’s highest inflation struggles to make its currency usable. Six new bills will enter circulation from 15 December, ranging in value from 500 Venezuelan bolivars up to 20,000 bolivars. This means the highest-value note [...]
Eurozone inflation reached its highest point in 2.5 years in November on the back of healthy services increases November 30, 2016 Eurozone inflation reached its highest point in two and a half years in November, ahead of next week’s meeting of the European Central Bank (ECB) to discuss interest rates. The annual rate of inflation rose to 0.6 per cent in the month, driven by continued strength in the price of services, according to an early [...]