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Festive cheer falls flat for some British retailers

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01/10/2020 | 05:36am EST

Britain's retailers reported mixed results for the critical Christmas period, with major supermarkets suffering their slowest festive season in years and retailers varied in their performance.

British shoppers cut back on spending in late 2019, rounding off the worst year since at least the mid-1990s for retail sales as measured by an industry group amid uncertainty about Brexit and last month's election.

That followed relatively subdued updates from the high street following "Black Friday" sales at the end of November.

Primark-owner Associated British Foods is scheduled to post its trading update next week.

Following are some of the highlights by sector:

SUPERMARKETS:

LIDL

The British arm of the German discount supermarket group said on Jan. 10 its total sales rose 11% in the four weeks to Dec. 29.

TESCO

Britain's biggest retailer ground out a 0.1% rise in underlying sales in its home market on Jan. 9 during what it said was a "subdued" Christmas for consumer spending.

SAINSBURY'S

Britain's No. 2 supermarket group reported a slight drop in underlying sales on Jan. 8 as weak demand for general merchandise overshadowed solid sales of food.

MORRISONS

The country's fourth-largest supermarket group reported another fall in underlying sales over Christmas on Jan. 7 as a tough economic backdrop and sustained consumer uncertainty deterred shoppers from splashing out.

ALDI [ALDIEI.UL]

The British arm of the German discount supermarket said on Jan. 6 sales growth in the four weeks to Dec. 24 was driven by strong demand for beer, wine and spirits.

DEPARTMENT STORES, HOMEWARE AND CLOTHES:

SUPERDRY

The fashion brand warned on its full-year profit on Jan. 10 after sales during the Christmas period fell short of its expectations.

JOULES

The fashion retailer warned on Jan. 10 that its 2020 profit would be significantly below market expectations as online retail sales suffered during Christmas.

B&M

The company, which sells everything from furniture to food, said on Jan. 10 its sales growth slowed in the key Christmas quarter due to a tough market.

JOHN LEWIS [JLPLC.UL]

Britain's best-known store chain on Jan. 9 cut its annual profit forecast after weak Christmas sales.

MARKS & SPENCER

The retailer on Jan. 9 said its performance over the key Christmas quarter was held back by waste in its food business and weak sales of menswear and gifts.

DUNELM

The homewares retailer forecast a near 20% jump in earnings for the first half of its fiscal year, as it avoided discounting during the key holiday season.

NEXT

The clothing retailer raised its full-year profit forecast on Jan. 3 after a better-than-expected Christmas performance.

PUBS & RESTAURANTS:

MITCHELLS & BUTLERS

The pub and restaurant operator reported strong sales for the festive season on Jan. 9, as more diners opted for its pricier healthy menu options.

GENERAL:

CARD FACTORY

The greeting card retailer on Jan. 9 said it expected lower annual earnings as last month's general election and weak consumer confidence hurt its Christmas performance.

(Reporting by Tanishaa Nadkar in Bengaluru; editing by Josephine Mason and Elaine Hardcastle)

Stocks mentioned in the article
ChangeLast1st jan.
ASSOCIATED BRITISH FOODS PLC -3.39% 2334 Delayed Quote.-10.16%
B&M EUROPEAN VALUE RETAIL S.A. -1.35% 329.1 Delayed Quote.-19.65%
CARD FACTORY PLC -2.76% 77.5 Delayed Quote.-47.60%
DUNELM GROUP PLC -4.91% 1123 Delayed Quote.-2.85%
EURO / BRITISH POUND (EUR/GBP) -0.10% 0.8527 Delayed Quote.-1.04%
FLAGSTAR BANCORP, INC. -4.14% 33.37 Delayed Quote.-8.99%
J SAINSBURY PLC -4.64% 194.05 Delayed Quote.-15.59%
JD SPORTS FASHION PLC -5.36% 741.8 Delayed Quote.-11.42%
JOULES GROUP PLC -4.55% 136.5 Delayed Quote.-40.65%
MARKS & SPENCER GROUP PLC -7.50% 159.05 Delayed Quote.-25.50%
MITCHELLS & BUTLERS PLC -7.78% 338 Delayed Quote.-26.44%
NEXT -4.52% 6216 Delayed Quote.-11.43%
SUPERDRY PLC -6.12% 310 Delayed Quote.-38.43%
TESCO PLC -4.31% 231 Delayed Quote.-9.48%
WM MORRISON SUPERMARKETS PLC -1.59% 170.05 Delayed Quote.-14.89%
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