Economy – Page 28
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NewsTesco contributes £37bn to wider UK economy, finds report
KPMG estimated that Tesco indirectly supported the equivalent of nearly 450,000 jobs in the UK
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NewsWarmer weather boosts retail spending in May
UK retail sales recovered in May as better weather brought consumers back onto British high streets, with sales growth at its fastest for more than four years.
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NewsCity snapshot: Warm weather drives grocery sales up 2.7%
Grocery sales jumped up 2.7% over the most recent 12 week period as the early summer weather boosted food and drinks sales, according to the latest grocery market share figures from Kantar Worldpanel. Plus, annual profits jump 25.4% at B&M European Value Retail, retail prices fall 1.1% and all the rest of the news from the City.
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NewsFood & drink exports boosted by EU sales growth
UK Food and drink exports jumped up 5.5% in the first quarter of 2018, driven by strong growth in EU markets
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NewsDamp weather slashes retail footfall in April
Retail footfall in April plunged by 3.3% year-on-year as the wet start to the month hit shopper numbers across the country, leading to the worst two-month figures since the depth of the recession in 2009.
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NewsCity snapshot: Grocery inflation rises as soft drinks prices spike
Supermarket price inflation rose again last month as the advent of the ‘sugar tax’ caused a spike in the price of soft drinks. Plus, packaging group Smurfit Kappa Group posts underlying first quarter growth of 7%, Kellogg’s organic net sales rise 0.6% in Q1 and all the rest of the latest news from the City.
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NewsAlmost 45,000 retailers in "significant financial distress" after difficult first quarter
The number of retailer under “significant financial distress” in the UK has increased 21% following a quarter of decreased consumer spending
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NewsCity snapshot: Grocery growth eases to slowest rate for a year amid 'pivotal moment'
The overall grocery market grew at its slowest rate for over a year at 2%, while a combined Sainsbury’s and Asda would result in a combined entity with a potential grocery market share of 31.4% according to Kantar Worldpanel. Plus, the latest market share figures from Nielsen, Just Eat’s first quarter sales jump 49%, DS Smith posts pre-close update and all the rest of the latest news from the City.
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NewsCity snapshot: Consumer confidence falls back again in April
GfK’s Consumer Confidence Index decreased two points in April 2018 – the 28th consecutive month without a positive overall index score, trading updates from Coca Cola European Partners, PepsiCo and Hershey after a busy day in the US and all the latest news from the City.
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NewsUK inflation falls to 2.5% but food inflation edges back upwards
UK inflation has fallen to its lowest rate in a year, though food price inflation edged up to a new high of 3.1%, according to the Office of National Statistics.
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NewsRetailers suffer worst drop in footfall since 2010
Footfall was down 6% year on year in March, with the high street seeing an 8.6% drop
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NewsScottish retailers 'hardest hit' with store closures
PwC research compiled by the Local Data Company showed almost 300 high street retail closures in Scotland
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NewsFood sales jump drives 1.4% retail sales growth in March
The latest BRC-KPMG Retail Sales Monitor shows UK retail sales increased by 1.4% in March on a like-for-like basis, driven by a 4.2% jump in like-for-like food sales.
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Analysis & FeaturesCity snapshot: Supermarket price inflation plunges to 0.8%
Supermarket inflation has fallen to its lowest level for over a year, according to the latest figures from The Grocer Price Index, while Sainsbury’s has become the first supermarket to show monthly deflation since February 2017. Plus, consumer stocks surge on market recovery all the rest of the latest news from the City
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NewsEurope-wide grocery spend surges as inflation bites
The amount Europeans spent on groceries climbed 4.4% in the final quarter of 2017 – the highest rise since early 2012, Nielsen’s latest retail performance data reveals.
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NewsUK retail sales return to growth in February
The rising cost of goods boosted retail sales in February according to the Office of National Statistics, with value sales growth significantly outpacing volume increases in purchases compared with the previous month.
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NewsPanic-buying shoppers empty shelves over weekend
Stores along a 19-mile stretch between Hayle and Truro in Cornwall sold out of bread, eggs, vegetables and milk
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Comment & OpinionBuild trust in cryptocurrency
We are on the cusp of a new world where e-commerce becomes b-commerce: Bitcoin commerce…
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NewsCity snapshot: Retail footfall falls again in February
Retail footfall declined by 0.5% in February according to the latest BRC – Springboard footfall and vacancies monitor, though this latest decline marked an improvement on recent falls in shopper numbers. Plus, consumer spending made its weakest start to the year since 2012 and all the rest of the latest news from the City.
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NewsCity snapshot: Inflation gap between Tesco and rivals expands
The inflationary gap between Tesco and its big four rivals has reached a new high even as inflation across the big four supermarkets flattens. Conviviality shares hammered after shock profits warning, Yeo Valley profits hit by rising milk prices and all the rest of the latest news from the City.