Retail data suggests UK political turmoil taking its toll this Christmas
by Zoe Wood from Economics | The Guardian on (#44RWB)
Figures from John Lewis, Tesco and Sainsbury's point to subdued consumer activity
Poor figures from John Lewis, and a slowdown at Tesco and Sainsbury's has raised fresh concerns that the uncertain political climate is taking its toll on consumer confidence this Christmas.
December is the most lucrative time of the year for the retail sector but John Lewis said sales in its department stores fell by more than 5% last week. The picture from its fashion and homewares divisions was even weaker, with sales in both down by about 7%.
Maplin, Toys R Us and Jacques Vert have all collapsed in recent months, but several retailers and restaurant groups are facing financial problems and are trying to close stores or negotiate rent cuts.
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