Sainsburys and Tesco benefit from discount day

on Dec 9, 2014
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iNVEZZ.com, Tuesday, December 9: UK retail sales surged 0.9 percent on a like-for-like basis last month, getting a boost from a successful Black Friday. The British Retail Consortium (BRC) said today that total retail spending was 2.2 percent higher last month as compared with the same month a year ago and compared with 1.4 percent growth in the year to October.

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FTSE 100 retailers which participated in the US-style discount day included J Sainsbury’s (LON:SBRY) and Tesco (LON:TSCO). British supermarkets are currently in the midst of a price war, with established retailers trying to fend off competition from German discount chains Aldi and LIdl which have increased their market share.
John Lewis numbers Sales for the last week were up 10.8% compared to last year. However that was 10.6% decline on the previous week which included the Black Friday offers. What are people buying? Sales of women’s own brand cashmere accessories are up 51% as temperatures drop. Less obviously, stainless steel roasting pans were up 39%.

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