(Bloomberg) -- Consumers may be getting some respite in the final months of the year. Greggs, the sausage roll and sandwich chain, said cost pressures have come down recently with total sales rising over 20% in its last quarter. Meanwhile, separate data from the British Retail Consortium showed that UK shoppers overall enjoyed the first monthly drop in food prices in more than two years.
Key Business News
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Boohoo Group Plc: The UK fast fashion retailer lowered its earnings and revenue forecasts as it cuts prices to attract cash-strapped shoppers.
- The owner of the PrettyLittleThing and Karen Millen brands has had a difficult few years as it weathered a labor scandal and then had to deal with inflation and a drop in spending online after people returned to bricks-and-mortar shops when Covid lockdowns ended
Food Prices: Retailers cut the cost of dairy products, fish and vegetables amid “fierce competition” between stores, the BRC said.
Greggs Plc: The company also said it expects 2023 to be a record year for the absolute number of new shops opened, targeting between 135 and 145 net openings.
Tesco Plc’s first-half results tomorrow are expected to show a robust margin despite consumers buying fewer items.
Sharon White’s tumultuous reign as the shortest-lived chairperson of John Lewis leaves the partnership facing a significant challenge to find a new leader at a time when the unprofitable business is struggling in most of its areas.
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- UK Sours on £895 Billion Stimulus Tool as Side Effects Hit Home
- BOE’s Mann Says UK Interest Rates May Remain Permanently Higher
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