Dixons and Sainsbury&#39;s interims reveal lower sales
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High street and shopping mall retail chain Dixons Group, the UK&#39;s largest consumer electronics and equipment retailer, has warned that sales and profits have waned in the last quarter.
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Supermarket group Sainsbury's says the decline in its food sales slowed to 0.4% over the festive period after it improved product availability.
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Sales at retailers rose a smaller-than-expected 0.3 percent and they showed the biggest decline in almost a year when car sales were excluded, the government said.
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Sainsbury has confirmed fears of weaker-than-expected first-half profit, following a recent analyst downgrade which sparked an investigation by regulators.
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J Sainsbury, the third-largest supermarket chain in Britain, said Monday that first-half profit fell by about 66 percent as the company lost business to companies including Tesco and Wal-Mart Stores&#39; ASDA.
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UK retail shares slump after poor Christmas sales from Marks & Spencer, sparking fears of a cooling economy.
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Business & money: Supermarket chain follows Tesco in reporting lower than expected figures.
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Sobering expectations â foreshadowed on Sunday when management announced the lower prices â weighed on the companyâs already drooping stock.
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UK stocks including J Sainsbury Plc, Britain&#39;s third-largest supermarket chain, fell. The company said first-half earnings fell by as much as 66 percent as it lost market share.
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Share prices on the London Stock Exchange were lower at midday Thursday.
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Ailing British supermarket group Sainsburyâs showed a further deterioration in its performance today after its third profits warning this year.
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Tesco has reported a slight slowdown in sales growth for the first quarter of 2007.
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Shares in Burberry sink 11% after it says retail sales were lower than hoped in the last three months of 2007.
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J Sainsbury Plc, Britain&#39;s third- largest supermarket chain, said first-half profit fell by as much as 66 percent as the company lost business to Tesco Plc and Wal- Mart Stores Inc.
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Business & money: Official data reveals a worse-than-expected fall in retail sales last month
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Marks &amp; Spencer today revealed a further dramatic fall in sales figures and then disappointed shareholders even further with its buyback offer.
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UK retailer Marks and Spencer said this morning that clothing and home sales had been steady in the two week period since the last trading update, but food sales had been slightly lower.