The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksJLH.L Share News (JLH)

  • There is currently no data for JLH

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 1-UK shoppers rein in spending as Brexit nears

Fri, 18th Jan 2019 10:38

* Retail sales volumes drop 0.2 pct in Q4, 1st fall since Q1

* Data backs other signs of spending slowdown

* Purse-strings tightened after Black Friday splurge (Updates with reaction, more details from ONS)

By Andy Bruce and William Schomberg

LONDON, Jan 18 (Reuters) - British shoppers cut back on spending in the three months to December for the first time since last spring, adding to evidence of a consumer slowdown as Brexit approaches, data showed on Friday.

Retail sales volumes fell 0.2 percent in the fourth quarter after a 0.2 percent rise in the three months to November, the Office for National Statistics (ONS) said.

Friday's data chimed with other signs that consumer spending is cooling after a strong summer.

Businesses are also cutting investment before Britain's scheduled departure from the European Union in late March, leaving the overall economy growing at a snail's pace.

In December alone, retail sales fell 0.9 percent, recoiling after November's Black Friday splurge, but were 3.0 percent higher than a year earlier.

Both readings were below economists' forecasts in a Reuters poll.

"A major concern for retailers will be that already cautious consumers further limit their spending in the near term at least due to the heightened uncertainties over Brexit," economist Howard Archer from the EY ITEM Club consultancy said.

Sterling and British government bonds were little changed after the data.

The ONS said the value of sales fell for the first time in three years in the three months to December, underlining a squeeze on retailers' profit margins as they battle for customers.

A survey last week from the British Retail Consortium showed retailers failed to increase Christmas sales for the first time since the depths of the global financial crisis a decade ago.

Supermarkets Sainsbury's and Morrison missed Christmas sales forecasts though Tesco beat them. Clothing retailer Next and department store John Lewis reported a late surge in demand.

The ONS data showed a drop in sales of carpets and floor coverings, possibly reflecting a stalling housing market.

While disarray over Brexit has weighed on consumer confidence, there has been some comfort for households recently with the fastest underlying pay growth since 2008 and inflation falling to an almost two-year low of 2.1 percent.

Highlighting the easing of inflation pressures, the ONS's measure of annual price increases in stores cooled to 0.6 percent in December from 1.3 percent in November, the smallest uptick in more than two years. (Editing by John Stonestreet)

More News
7 Sep 2018 00:01

British shops endure worst August for three years -BDO survey

LONDON, Sept 7 (Reuters) - British shops suffered their worst August in three years, a survey showed on Friday, as inflationary pressures and a record heatwave drove consumers away and a shift to

Read more
5 Sep 2018 00:51

PRESS DIGEST- British Business - Sept 5

Sept 5 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The faces an

Read more
29 Aug 2018 09:23

Dunelm Non-Executive Director Departs To Become Debenhams Finance Boss

LONDON (Alliance News) - Dunelm Group PLC on Wednesday said Non-Executive Director Rachel Osborne has resigned immediately after her appointment as chief financial officer at fashion retailer was

Read more
22 Aug 2018 08:40

Debenhams Appoints Former Domino's Finance Boss Osborne As CFO

LONDON (Alliance News) - Department store chain Debenhams PLC said Wednesday that it appointed Rachel Osborne as chief financial officer, with effect from September 17.Osborne previously as

Read more
22 Aug 2018 08:05

UPDATE 1-UK's Debenhams names Rachel Osborne as new finance chief

LONDON, Aug 22 (Reuters) - Debenhams, the British department store group that has issued three profit warnings this year, said on Wednesday it had recruited a former chief financial officer of to

Read more
22 Aug 2018 07:16

Debenhams names Rachel Osborne as new finance chief

LONDON, Aug 22 (Reuters) - Debenhams, the British department store group that has issued three profit warnings this year, said on Wednesday it has recruited a former chief financial officer of as

Read more
5 Jul 2018 13:07

UK retail says no-deal Brexit will see "food rotting at ports"

* BRC warns of risk to food supply and food prices * Plea made ahead of key meeting of UK ministers LONDON, July 5 (Reuters) - The British government and the European Union must a up

Read more
24 May 2018 13:06

John Lewis Of Hungerford Interim Loss Narrows As Sales Improve

LONDON (Alliance News) - Bedrooms and furniture retailer John Lewis of Hungerford PLC said on Thursday its loss narrowed in the first half of its financial year due to an improved sales the six to

Read more
5 May 2018 21:40

Amazon unsuccessfully approached UK supermarket Waitrose in 2017 - Sunday Times

LONDON, May 5 (Reuters) - Amazon made an unsuccessful informal attempt to buy upmarket British supermarket chain Waitrose late last year, the Sunday Times newspaper reported. Citing an the

Read more
14 Mar 2018 13:17

LightwaveRF Signs Several Supply And Distribution Agreements

LONDON (Alliance News) - Smart home products provider LightwaveRF PLC said on Wednesday it has made a series of distribution arrangements for UK retail to

Read more
8 Mar 2018 13:33

M&S boss Rowe, new chairman Norman see eye to eye on strategy

* CEO says agrees with chairman on 85 pct of issues * UK consumer "fragile" and "volatile" - Rowe * "Very pleased" with small James

Read more
8 Mar 2018 10:56

UPDATE 1-Britain's John Lewis expects profit squeeze from competition

By Sarah Young LONDON, March 8 (Reuters) - Retailer John Lewis expects further pressure on profits in 2018 after a 22 percent drop last year as a result of persistent a

Read more
31 Jan 2017 15:09

John Lewis of Hungerford in line after store closures

(ShareCast News) - Manufacturer, designer and retailer of fitted kitchens, kitchen furniture and bedroom furniture, John Lewis of Hungerford, was holding its annual general meeting in Oxfordshire on Tuesday afternoon. The AIM-traded company's chairman, Gary O'Brien, addressed shareholders on the c

Read more
5 Sep 2016 09:24

John Lewis of Hungerford managing director Jon Rosby to step down

(ShareCast News) - John Lewis of Hungerford said on Monday that Jon Rosby will stand down as managing director on 30 September after ten years in the role. The kitchen, bedroom and furniture retailer said Rosby was leaving by mutual agreement to pursue other opportunities and will be succeeded by Ki

Read more
11 Aug 2016 09:43

WINNERS & LOSERS SUMMARY: DFS Furniture Is Sitting Comfortably

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.