Retail news
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Cash machine curbs questioned by MPs
- Posted:
- 10 October 2011 10:30
Two of Britain's largest banks have been told by MPs to justify their restrictions on basic account customers using rivals' cash machines.The influential Treasury Select Committee has written to the chiefs of Royal Bank of Scotland and Lloyds Banking expressing their concern at the policy.Committee chairman Andrew Tyrie said he ...read more
Premier warns on profits
- Posted:
- 07 October 2011 09:57
The UK's largest food manufacturer today issued a profits warning as it revealed a slump in sales across well-known brands including Hovis.Premier Foods, which also owns brands such as Indian foods label Sharwood's and Batchelor's soup, said sales volumes had fallen 8% in the three months to September 30th. Hovis ...read more
Tesco sees worst sales result in 20 years
- Posted:
- 05 October 2011 10:41
Tesco has reported the worst six-month trading results in 20 years as electronics and entertainment products were hit hard amid the most challenging conditions for a generation. The supermarket, which launched its £500 million Big Price Drop campaign last week, said UK like-for-like sales excluding VAT dropped 0.5% in the ...read more
Sainsbury’s boosted by non-food and convenience sales
- Posted:
- 05 October 2011 10:40
Sainsbury's hailed a "good sales performance" today after enjoying success in fashion and in its convenience stores.The group's like-for-like sales were up 1.9% excluding fuel in the quarter to October 1st, although unlike Tesco its figures include VAT.Chief executive Justin King said general merchandise and clothing continued to do well, ...read more
Inflation kept high by food prices
- Posted:
- 05 October 2011 10:38
Higher food bills kept the rate of shop price inflation unchanged last month, despite falls for clothing and footwear as retailers stepped up clearance sales to entice shoppers.Food prices rose by 5% in September, unchanged from August and up by 0.1% over the month, even though the price of some ...read more
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