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Ken Murphy - 1 Rishi Sunak's - 1 Murphy - 1 James Davey - 1 Sarah Young - 1 Kate Holton - 1 Jason Neely - 1
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☆ Retailer Tesco says Britain has passed peak inflation
  + stars: | 2023-06-16 | by ( James Davey Sarah Young | James Davey | Sarah Young | ) www.reuters.com   time to read: +2 min
"We do believe that we're past the peak inflation," CEO Ken Murphy told reporters. Prime Minister Rishi Sunak's key economic pledge to halve inflation in 2023 has been undermined by persistent high food inflation, which was running at over 19% in April, according to the most recent official data. Murphy warned though that while some commodity prices were coming down, higher labour costs which are feeding into inflation are likely to stick. Tesco has said it expects prices to rise in 2023 but with the rate of inflation declining through the year. Reporting by James Davey and Sarah Young; editing by Kate Holton and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.
Persons: Ken Murphy, Rishi Sunak's, Murphy, James Davey, Sarah Young, Kate Holton, Jason Neely Organizations: Tesco, Britain's, Aldi, Thomson
☆ London fears losing luxury shoppers to Paris and Milan
  + stars: | 2023-03-14 | by ( James Davey Sarah Young | James Davey | Sarah Young | ) www.reuters.com   time to read: +5 min
To compound the problem, British shoppers are themselves starting to spend more in the European Union, where they can also reclaim the value-added tax (VAT) charged on goods. OWN GOALBurberry BRBY.L, Britain's biggest luxury retail brand, warned last year that London was losing out to other European cities over the VAT rule. "That's why tax-free was so important for them, and now we are the only country in Europe that doesn't offer it." Cadogan, the main landlord in the west London districts of Chelsea and Knightsbridge, whose estate spans over 90 acres, also called on the government to act. He said he had not considered the VAT issue before, because he was generally spending his parents' money.
☆ Christmas shopping begins early as Britons face cash crunch
  + stars: | 2022-11-09 | by ( James Davey Sarah Young | James Davey | Sarah Young | ) www.reuters.com   time to read: +3 min
Machin also noted a trend of more eating at home as consumers look to save money by cutting down on restaurant visits. Katie Bickerstaffe, joint CEO, told reporters that its customers had already bought about 30% of their clothing and homewares Christmas gifts. "People are planning forward a little bit now," she said, highlighting very high demand for Christmas pyjamas. Similarly, Sainsbury's said last week consumers were buying cakes, mince pies and chocolates in advance of Christmas. ($1 = 0.8747 pounds)Reporting by James Davey and Sarah Young; Editing by Kate Holton and Alexander SmithOur Standards: The Thomson Reuters Trust Principles.
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