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UK Food Prices Fall By Most in Almost Five Years, BRC Says
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US Briefing - Monday 11.08 Headlines Commentary Files & Links LS PREVIEWS/REPORTS LS Focus On The Week Ahead LiveSquawk Commodity Corner DATA US NFIB Small Business Optimism Jul: 100.3 (est 98.9; prev 98.6) UK ILO Unemployment Rate 3M Jun: 4.7% (est 4.7%; prev 4.7%) UK Payrolled Employees Monthly Change Jul: -8K (est -20K; prev -41K) Eurozone ZEW Survey Expectations Aug: 25.1 (prev 36.1) German ZEW Survey Expectations Aug: 34.7 (est 39.5; prev 52.7) South Africa Gold Production (Y/Y) Jun:...
News Highlights: Top Global Markets News of the Day - Friday at 9 AM ET
Employers Added 143,000 Jobs in January, and Unemployment Edged Down to 4% The gain in jobs was less than economists had expected, but the job counts for November and December were revised upward by a combined 100,000 German Industrial Production Ends 2024 on Weak Note Output declined 2.4% on month in December, driven by a fall in auto production, as the industrial sector faces the threat of a further slowdown from U.S. tariffs.
News Highlights: Top Global Markets News of the Day - Friday at 5 AM ET
The Early Verdict on Tariffs: Bad Economics, Better Politics Markets concluded tariffs on Mexico and Canada would hurt the economy and raise prices. But they got both countries to act. Fed might need to hold rates steady 'for quite some time,' Logan says Even inflation falling close to 2% in the coming months might not necessarily allow the Fed to cut rates soon, Logan said. Is the U.S. jobs market much weaker than it looks? We're about to find out.
Black Friday Spending Lifted UK Retail Sales At End Of 2024
Black Friday spending helped lift UK retail sales in late 2024 but overall sales in the final quarter of last year proved disappointing, the British Retail Consortium said. Total retail spending rose 3.2% year-on-year in the four weeks to December 28 after a 3.3% drop the month before. Last month's rise was the biggest since March, but Black Friday fell in the BRC's December period in 2024 and in November in 2023, distorting year-on-year comparisons.
Spain's Dia Reports 'Strong' Performance In FY 2023 With Profitability Growth
Spanish grocery retailer Dia's proximity strategy proved successful in its financial year 2023, generating 'strong results' despite a challenging economic climate. Sales reached €6.76 billion, with LFL sales growth of 3.3% driven by strong performance in Spain. However, overall net sales decreased 7.2% due to currency fluctuations in Argentina, the company noted. Adjusted EBITDA reached €216 million (+7.8%), while the net result improved by €94 million, bringing Dia's losses down to €30 million.
UK Supermarkets' Sales Growth Slows In February, NIQ Says
Sales growth at British supermarkets slowed to 5.3% in February, from 6.6% in January, reflecting a fall in food inflation, industry data showed. Market researcher NIQ said food price inflation decreased to 5.0% last month from 6.1% in January. It said 24% of all FMCG (fast moving consumer goods) sales were bought on promotion in the four weeks to 24 February, rising to 35% for branded goods, up from 31% a year ago. It was 16% for own-label items, up from 13% a year ago.
Britain's Tesco Raises Store Worker Pay By 9.1%
Tesco, Britain's biggest retailer, said it would raise store workers' hourly pay by 9.1%, in a move that reflects the increase in the government-mandated minimum wage. The supermarket group, one of the country's largest private sector employers , said a deal struck with shop workers' union USDAW means hourly base pay will rise from £11.02 ($13.98) to 12.02 pounds from April. That is ahead of the government's national living wage, which will increase by 9.8% to £11.44 an hour.
Target's Earnings Surge Despite Holiday Sales Dip, Sees Sales Recovery In 2024
Target has reported higher holiday-quarter earnings on a smaller-than-expected sales decline and predicted that annual comparable sales would come in largely above Wall Street expectations. The mass merchandiser is banking on same-day services, product launches and a new membership programme to boost spending at its stores. Target reported adjusted earnings of $2.98 per share in the fourth quarter, compared to $1.89 per share in the same period a year earlier.
UK Sales Growth Slows In February, Dampened By Rainy Weather, BRC Says
British consumer spending slid in February as bad weather kept shoppers at home, according to a survey that showed households remained cautious to spend in the face of high borrowing costs and inflation. The British Retail Consortium (BRC) said consumer spending increased by 1.1% in February from a year earlier, representing a fall after inflation is taken into account, and slightly below the 1.2% rise in January.
UK Sales Growth Slows In February, Dampened By Rainy Weather, BRC Says
Economy British consumer spending slid in February as bad weather kept shoppers at home, according to a survey on Tuesday that showed households remained cautious to spend in the face of high borrowing costs and inflation. The British Retail Consortium (BRC) said consumer spending increased by 1.1% in February from a year earlier, representing a fall after inflation is taken into account, and slightly below the 1.2% rise in January.
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