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☆ Analysis: European retailers are on investors' naughty lists this Christmas
▼ + stars: | 2022-10-28 | by ( Joice Alves | ) www.reuters.com time to read: +5 min

On stock markets, the European retail sector (.SXRP) has lost 40% of its value so far this year, more than twice the hit on the broader regional share index (.STOXX). Yet, JPMorgan and other strategists say the worst is yet to come for consumers and retailers alike. European retailersSURGING COSTSHigher energy bills and wages and elevated freight and fabric prices have pushed up costs for euro zone companies by more than 40% this year, according to Eurostat data. "A lot of these retailers are running with elevated inventory levels, in order to clear that you'd expect a lot more promotions and discounting. "Our exposure to retailers has remained highly selective all year," he said, adding that he prefers discount retailers, which could benefit from consumers trading down.

☆ UK stocks rise as investors count on upbeat earnings
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +1 min

The blue-chip FTSE 100 (.FTSE) rose 0.2%, extending gains to hit a three-week high, while the mid-cap FTSE 250 (.FTMC) up 0.4% by 0724 GMT. Shell PLc (SHEL.L) rose 2.7% as the oil heavyweight said it would sharply boost dividend after reporting a third-quarter profit of $9.45 billion, which came in slightly ahead of expectations. read moreShares of Lloyds Banking Group (LLOY.L) gave up 1.7% after the lender posted a decline in third-quarter pre-tax profit due bad loan charges. read moreThe broader European index (.STOXX) shed 0.3%, as investors cautiously await a likely 75-basis-point rate hike by the European Central bank around 1215 GMT. read moreReporting by Johann M Cherian in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ ASOS in talks to amend credit facility terms
▼ + stars: | 2022-10-15 | by ( ) www.reuters.com time to read: +1 min

Oct 15 (Reuters) - British online fashion retailer ASOS (ASOS.L) on Saturday said it was seeking an amendment to the terms of its borrowing agreements. "ASOS is in the final stages of agreeing an amendment to the future financial covenants in its Revolving Credit Facility, which matures in July 2024," the company said in a statement. The online fashion retailer's lenders including Barclays, HSBC and Lloyds Banking Group were lining up AlixPartners and law firm Clifford Chance to advise them on the unfolding situation, Sky News reported earlier. ASOS said on Saturday it retained a strong liquidity position and called the loan amendments a "prudent step". ($1 = 0.8953 pounds)Register now for FREE unlimited access to Reuters.com RegisterReporting by Mrinmay Dey in Bengaluru; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Britons turn to electric blankets and candles as winter looms
▼ + stars: | 2022-10-11 | by ( Sarah Young | ) www.reuters.com time to read: +4 min

Market research released on Tuesday showed that grocery inflation hit another new record of 13.9% in September, deepening the cost-of-living crisis, while BRC-KPMG data showed people were investing in items to help them save cash. Nine out of 10 people surveyed by Barclaycard in Britain from Sept. 23-26 said they were concerned about household energy bills. Over half of those surveyed by Barclaycard said they were planning to cut down on discretionary spending so they can afford their energy bills this winter, with nights out most likely to be canned. Rival JD Wetherspoon's said last week that its sales had been boosted by young people drinking cocktails and spirits. Coffee and sandwich chain Pret A Manger said on Tuesday that it would raise staff pay for a second time this year.

☆ Air fryers, blankets and warm clothes: Brits stock up ahead of tough winter
▼ + stars: | 2022-10-11 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Bloomberg | Bloomberg | Getty ImagesLONDON — U.K. retail sales rose in September, data published Tuesday showed — but the details highlighted the multitude of challenges facing the public heading into the winter months. And consumers eschewed big purchases like computers, TVs and furniture, instead boosting sales of items like blankets, warm clothing and energy-efficient household appliances, such as air fryers. watch nowDickinson said the retail sales data showed households were preparing themselves for the higher energy prices. A survey by consultancy GFK showed U.K. consumer confidence dropped to the lowest level since it began readings in 1974 for the fourth time in a row in September. Figures also published Tuesday showed U.K. unemployment fell to 3.5% in the period from June to August, and the number of unemployed people per job vacancy was at a record low of 0.9.

☆ UK consumer spending lags far behind inflation, BRC and Barclaycard surveys show
▼ + stars: | 2022-10-10 | by ( Andy Bruce | ) www.reuters.com time to read: +1 min

LONDON, Oct 11 (Reuters) - British consumer spending grew last month at a rate that lagged behind inflation by a long way, according to surveys on Tuesday that underlined the risk of recession as the cost-of-living crisis rumbles on. Barclaycard said spending on its credit and debit cards rose 1.8% year-on-year in September, the weakest reading since February 2021 and far behind the annual 9.9% increase in consumer prices in August. Nine out of ten people surveyed by Barclaycard from Sept. 23-26 said they were concerned by rising household energy bills. "While UK retail sales grew in September, this represented another month of falling sales volumes given high levels of inflation," said Helen Dickinson, the BRC's chief executive. Register now for FREE unlimited access to Reuters.com RegisterReporting by Andy Bruce; editing by David MillikenOur Standards: The Thomson Reuters Trust Principles.

☆ JPMorgan doubles down on UK retail bank Chase
▼ + stars: | 2022-09-27 | by ( Iain Withers | ) www.reuters.com time to read: +4 min

JPMorgan said it had attracted one million customers and more than 10 billion pounds ($10.8 billion) of deposits to its UK mobile app bank since its launch last September. read more"We want to be international, starting with the UK," Sanjiv Somani, UK chief executive of Chase, said in an interview at the bank's UK headquarters in Canary Wharf in London on Friday. The retail banking revenue pool is in the trillions, even outside the U.S."He declined to say where Chase might launch next. Somani started his career in retail banking in India helping Citi launch a much simpler version of a 'digital bank' - one that would text you your bank balance. Germany's N26 quit the country after just two years, while Citi axed its UK retail bank last week.

☆ UK shop price inflation speeds up again to new high - BRC
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +1 min

LONDON, Sept 28 (Reuters) - The climb in prices charged by shops and supermarkets in Britain accelerated again in the 12 months to September, hitting its highest since records began in 2005, the British Retail Consortium said on Wednesday. Market research firm NielsenIQ, which co-produces the data, said 76% of consumers expected to be moderately or severely affected by the cost-of-living crisis over the next three months, up from 57% in the summer. Britain's consumer price index, which measures a broader range of prices than the BRC's data, hit a 40-year high of 10.1% in July before easing back to 9.9% in August. The cost of imported goods in Britain faces further inflationary pressure after a slump in the value of the pound triggered by the announcement of tax cuts by new finance minister Kwasi Kwarteng last week. Register now for FREE unlimited access to Reuters.com RegisterReporting by William Schomberg, editing by Andy BruceOur Standards: The Thomson Reuters Trust Principles.

Made.com web site is seen on a smartphone in front of a displayed logo in this illustration taken June 16, 2021. Made.com employs around 700 people, indicating more than 200 jobs could be cut. In the past year supply chain disruptions, made worse by Russia's invasion of Ukraine, have also pushed up costs for companies, including Made.com. Made.com appointed PricewaterhouseCoopers (PwC) as its financial adviser to the strategic review and formal sale process. British retailer DFS Furniture (DFSD.L)last week also warned of a challenging outlook for the furniture sector, saying volumes have fallen as demand wanes.

☆ Factbox: UK retailers raising staff pay amid cost-of-living crunch
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Toby MelvilleSept 22 (Reuters) - Retailers in Britain are looking to increase pay and attract staff in a tight labour market, as workers are increasingly taking to strike action amid a cost-of-living crisis in the country. read moreRegister now for FREE unlimited access to Reuters.com RegisterMARKS & SPENCERMarks & Spencer (MKS.L) said on Sept. 21 it would pay a minimum of 10.20 pounds, up from 10.00 pounds, from Oct. 1. read moreSAINSBURY'SSainsbury's (SBRY.L) said on Sept. 13 it will from Oct. 16 pay a minimum of 10.25 pounds, up from 10.00 pounds, and 11.30 pounds in London, up from 11.05 pounds. read moreTESCORetailer Tesco (TSCO.L) in September started to offer better perks to its workers including free food and essentials. read moreMORRISONSMorrisons on June 10 said it would pay a minimum of 10.20 pounds from October, with London workers paid a minimum of 11.05 pounds.

☆ Britain's M&S raises staff pay for second time in 2022
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterA Marks and Spencer (M&S) logo is seen on the outside of a store in Cheshire, Britain August 18, 2020. Register now for FREE unlimited access to Reuters.com RegisterThe additional autumn pay review, a first for M&S, follows an initial pay increase in April to 10.00 pounds an hour from 9.50 pounds. The clothing and food retailer said its new package to support workers would cost it 15 million pounds. It includes a one-off 250 pounds M&S voucher for 4,500 salaried colleagues at pre-management levels in stores and support centres. ($1 = 0.8818 pounds)Register now for FREE unlimited access to Reuters.com RegisterReporting by James Davey; editing by Kylie MacLellan and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ British business is grinding to a halt on Monday for the Queen's funeral, with most big chains closing
▼ + stars: | 2022-09-17 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Supermarkets, fast food chains, gas stations, and cinemas across Britain will close on Monday. Sign up for our newsletter to receive our top stories based on your reading preferences — delivered daily to your inbox. Gas stations operated by the supermarket chains will also close, with some reopening after 5pm. KFC will also close many of its restaurants until after the funeral has taken place, it said on its website. The British Retail Consortium has published a list of chains not opening on Monday here.

☆ Marea Britanie riscă să se confrunte cu o penurie de produse proaspete de Crăciun
▼ + stars: | 2020-12-22 | by ( ) www.jurnal.md time to read: +2 min

"Toate produsele pentru micul dejun tradiţional de Crăciun sunt deja în ţară şi în cantităţi mari", a informat grupul într-un comunicat. "Ne aprovizionăm cât mai mult posibil din Marea Britanie şi studiem modele de transport alternativ pentru produsele care vin din Europa", au adăugat reprezentanţii Sainsbury. În schimb, Ian Wright, directorul general de la Food and Drink Federation, este mai pesimist şi afirmă că suspendarea sosirii camioanelor din Europa în Marea Britanie "este posibil să provoace perturbări în aprovizionarea cu produse proaspete de Crăciun în Marea Britanie". Magazinele şi companiile, în general, s-au străduit să îşi facă stocuri înaintea datei de 1 ianuarie 2021, fiind îngrijorate că, în lipsa unui acord între Marea Britanie şi UE, formalităţile administrative vor provoca întârzieri în livrări. Un număr de aproximativ 10.000 de camioane tranzitează în fiecare zi Canalul Mânecii în perioadele de vârf ale cererii de dinainte de Crăciun.

Persons: Andrew Opie, Ian Wright, Boris Johnson, Crăciun, Rod McKenzie Organizations: Retail Consortium, britanici, Road, Association Locations: Europa, brocoli, Dover, UE, Brexit, Mânecii

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