News That Matters

Tag: sales

Sainsbury's sees retail sales fall 1.1% over Christmas

Sainsbury's sees retail sales fall 1.1% over Christmas

Business
Sainsbury's has seen sales fall over Christmas after non-food trading was hit by consumer caution.Like-for-like retail sales, which exclude sales from new stores, fell by 1.1% across the Christmas period.General merchandise sales, including at Sainsbury's-owned Argos, fell by 2.3% and overall clothing sales by 0.2%.Chief executive Mike Coupe said: "Retail markets are highly competitive and very promotional and the consumer outlook continues to be uncertain."Toy sales hitHe added: "General merchandise sales grew strongly over the key Christmas weeks and outperformed the market over the quarter. "Sales declined in the quarter due to cautious customer spending and our decision to reduce promotional activity across Black Friday. Clothing performed well, with...
Black Friday boosts struggling retailers as sales jump

Black Friday boosts struggling retailers as sales jump

Business
Strong Black Friday sales helped tills ring in November - a crucial Christmas trading month that Sports Direct tycoon Mike Ashley had described as "the worst in living memory" for the high street. The Office for National Statistics (ONS) reported sales volumes growing by 1.4% compared to the previous month and by 3.6% on an annual basis.Economists had been expecting a month-on-month figure of around 0.3% - given some warnings in the retail sector that Black Friday promotions had largely left consumers - anxious about the outcome of Brexit - feeling cold.The ONS did, however, place a health warning on the contribution from Black Friday saying the evolution of the promotional period was continuing to put a strain on its seasonal adjustment models.It reported that much of the ...
Bonmarché shares halve after sales slump

Bonmarché shares halve after sales slump

Business
Shares in fashion chain Bonmarché fell sharply after the group warned it could slip to a full-year loss of up to £4m.The budget retailer's shares lost 50% before settling to a 40% loss. The decline follows "extremely poor" Black Friday sales and continuing subdued shopper demand amid Brexit uncertainty.Bonmarché said: "consumer behaviour is not following last year's pattern, nor the pattern of any year we have experienced previously,"The company said sales had not recovered since Black Friday, "despite the application of extensive discounts" and predicted sales would not recover to normal levels in the short term."We believe that uncertainty surrounding Brexit is a significant factor affecting demand and, therefore, that it may not str...
Russia now world's No. 2 in arms sales, report shows

Russia now world's No. 2 in arms sales, report shows

Business
Dec. 10 (UPI) -- Russia is now the world's second-largest arms producer, overtaking Britain and moving behind only the United States, researchers said Monday. The Stockholm International Peace Research Institute said in a report sales of arms and military services totaled $ 398.2 billion in 2017. The figure, which excludes China because of a lack of available data, is 2.5 percent higher than it was the previous year and 44 percent higher than it was in 2002. The United States remained the world's top producer of arms, with $ 226.6 billion in sales in 2017, the report said. U.S. equipment accounted for 57 percent of sales of the top 100 countries listed. Lockheed Martin had the highest amount of arms sales in the world, followed by U.S. companies Boeing and Raytheon and Britain's BAE Syste...