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Share Price: 357.30
Bid: 359.20
Ask: 360.00
Change: 6.20 (1.77%)
Spread: 0.80 (0.223%)
Open: 350.90
High: 366.20
Low: 349.40
Prev. Close: 351.10
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Retail sales rise at slowest pace since May - BRC

Mon, 08th Feb 2021 14:30

(Sharecast News) - Retail sales rose in January at the slowest pace since the depths of the first Covid-19 lockdown as non-essential spending was hit by consumer concerns, the British Retail Consortium said.


Total retail sales fell 1.3% in January as like-for-like sales rose 7.1% from a year earlier. In the three months to January, in-store sales of non-food items dropped 36.5% and by 20% on a like-for-like basis. Food sales rose 7.5% on a like-for-like basis and 7.9% overall.

Over the same three months, total non-food sales dropped 5.6% and like-for-like sales rose 5.6%. Online non-food sales rose 83% in January, the highest growth on record, compared with just 1% a year earlier, as computer sales shot up with children off school. Clothing sales continued to decline with physical sales down across categories.

Helen Dickinson, the BRC's chief executive, said: "January saw retail sales growth decline to its lowest level since May of last year. The current lockdown has hit non-essential retailers harder than in November, with the new variant hampering consumer confidence and leading customers to hold back on spending - especially on clothing and footwear."

The survey shows the different impact of the crisis on physical shops compared with online sales, which have boomed, in what commentators say will be a permanent shift to shopping from home. So much so that the government is reported to be considering a tax on online sales to redress the balance between e-commerce operators such as Amazon and struggling physical shops.

Paul Martin, KPMG's UK head of retail, said: "With much of the UK in lockdown for the foreseeable weeks, conditions for retailers will continue to be incredibly challenging. On the one side dealing with a continued increase in online demand versus subdued demand on the high street - and overall in many cases, thinner margins and rising logistics costs and complexities post-Brexit."

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27 Jul 2023 10:34

IN BRIEF: Ocado Solutions CEO Jensen to depart; board member replaces

Ocado Group PLC - Hertfordshire-based online grocer and warehouse technology firm - Luke Jensen will step down as chief executive officer of Ocado Solutions on September 30, in order to focus on external non-executive director positions. Jensen has been CEO of Ocado Solutions since 2017. The division offers Ocado's grocery warehouse and delivery technology to other supermarkets.

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27 Jul 2023 08:15

Luke Jensen stepping down from Ocado Solutions

(Sharecast News) - Technology-driven online grocer Ocado Group announced the upcoming retirement of Luke Jensen, the current executive director and CEO of Ocado Solutions, on Thursday.

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24 Jul 2023 17:09

UK's FTSE 100 edges higher on gains in energy shares

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24 Jul 2023 16:59

LONDON MARKET CLOSE: FTSE 100 shakes off weak PMI readings

(Alliance News) - Blue-chip European equities took confidence from a decent open in New York, despite some less-than-stellar PMI data darkening the mood earlier on Monday.

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24 Jul 2023 12:04

LONDON MARKET MIDDAY: China stimulus impatience keeps lid on sentiment

(Alliance News) - Equity prices in Europe were mixed heading into Monday afternoon, with a warning of the challenges facing the Chinese economy hurting investor sentiment at the start of a busy week of central banking action.

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24 Jul 2023 08:48

LONDON MARKET OPEN: Lower start with eyes on trio of rate decisions

(Alliance News) - Stock prices in London opened largely lower on Monday as markets looked ahead to a week of interest decisions from three major central banks.

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24 Jul 2023 07:51

LONDON BRIEFING: Stocks to open lower; Vodafone quarterly revenue dips

(Alliance News) - Stocks in London are set to open lower on Monday, ahead of a busy week focused on key interest rate decisions from the three major central banks.

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24 Jul 2023 07:33

Ocado to receive £200m from AutoStore in patent dispute settlement

(Sharecast News) - UK online supermarket Ocado has won a £200m settlement from Norwegian company AutoStore after a three-year legal battle over 'robot' patents.

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23 Jul 2023 09:51

Ocado to be paid GBP200m in deal to settle robot patent case

(Alliance News) - Online supermarket Ocado Group PLC is to be paid GBP200 million in a deal with Norwegian warehouse automation firm AutoStore AS, which accused it of breaching patents.

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22 Jul 2023 14:41

AutoStore and Ocado reach deal to settle patent litigation claims

July 22 (Reuters) - Norwegian robotics firm AutoStore will pay 200 million pounds ($257.1 million) to British online supermarket group Ocado as part of a deal between the warehouse tech pioneers to settle all outstanding patent litigation claims, they said on Saturday.

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22 Jul 2023 13:58

AutoStore, Ocado settle all patent litigation claims

July 22 (Reuters) - AutoStore Holdings and Ocado Group have reached an agreement to settle all patent litigation claims between them, the two firms said on Saturday. (Reporting by Anirudh Saligrama in Bengaluru; editing by Jason Neely)

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21 Jul 2023 09:33

LONDON BROKER RATINGS: Jefferies raises Hargreaves Lansdown to 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

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19 Jul 2023 09:17

LONDON BROKER RATINGS: Exane raises Segro; Goldman likes Aston Martin

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

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18 Jul 2023 17:27

European shares boosted by Novartis, telecom stocks slide

STOXX 600 up 0.6%, Swiss stocks outshine peers

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18 Jul 2023 17:04

UK stocks end higher on US bank earnings cheer, homebuilders rally

Homebuilders log best day in five months

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