Retail Sales Show Resilience in Face of High Prices, Low Confidence
20 May 2022 - 7:06PM
Dow Jones News
UK Retail Sales Show Resilience in Face of High Prices, Low
Confidence
0835 GMT - The unexpectedly strong rise in U.K. retail sales in
April suggests the cost of living crisis hasn't caused consumer
spending to collapse and means the economy may have a little more
momentum than previously thought, Nicholas Farr, assistant
economist at Capital Economics, says in a research note. The 1.4%
on-month rise in retail sales volumes in April was the first rise
in three months and strength in sales was broad-based, the
economist notes. "It may take some time for the cost of living
crisis to fully filter through into weakness in retail sales," Farr
says. Even so, the signs of resilience in the retail sales data are
encouraging, and Farr says low confidence won't weigh on spending
as much as in the past. (maria.martinez@wsj.com)
Companies News:
THG Rejects GBP2.07 Bln Bid From Belerion Capital, King
Street
THG PLC said late Thursday that has it rejected a proposal from
investment companies Belerion Capital Group Ltd. and King Street
Capital Management, LP for 170 pence a share, which valued the deal
at 2.07 billion pounds ($2.58 billion).
---
Genel Energy Appoints Luke Clements as CFO
Genel Energy PLC said Friday that it has appointed Luke Clements
as chief financial officer with immediate effect.
---
Next Fifteen Communications Agrees on GBP310.1M M&C Saatchi
Acquisition
Next Fifteen Communications Group PLC said Friday that it has
reached an acquisition agreement with M&C Saatchi PLC that
values the company at around 310.1 million pounds ($386.8
million)
---
Croda International Backs FY View Backed on Robust
Performance
Croda International PLC said Friday that expectations for the
full year are unchanged as input cost inflation continues to be
recovered.
---
Kibo Energy Appoints New CFO
Kibo Energy PLC said Friday that it has appointed Cobus van der
Merwe as chief financial officer, effective June 1.
---
Restore Says Four-Month Performance Was In Line With Views
Restore PLC said Friday that performance for the four months of
the year was in line with the board's expectations despite
higher-than-expected inflation.
---
Wincanton FY 2022 Pretax Profit Rose on Lower Costs
Wincanton PLC said Friday that fiscal 2022 pretax profit rose
after booking lower costs, and that it had good momentum in the new
business pipeline and was confident in its future growth
opportunities.
---
Mast Energy Developments Appoints Pieter Krugel as CEO
Mast Energy Developments PLC said Friday that it has appointed
Pieter Krugel as chief executive, effective June 1.
---
TheWorks.co.uk Says FY 2022 Performance Ahead of Prepandemic
Levels, Reinstates Dividend
Shares in TheWorks.co.uk PLC rose Friday after it said that its
performance in fiscal 2022 was strong and ahead of prepandemic
levels, and that it was reinstating dividends.
---
Braemar Shipping Sees FY 2023 Adj. Operating Profit Above
Views
Braemar Shipping Services PLC said Friday that it expects
underlying operating profit for fiscal 2023 to be above market
expectations, and that it intends to declare a dividend payout for
fiscal 2022.
---
Eagle Eye Sees FY 2022 Revenue, Adjusted Ebitda Ahead of
Views
Eagle Eye Solutions Group PLC said Friday that it expects
revenue and adjusted Ebitda for fiscal 2022 to be ahead of current
market expectations by around 7% and 10%, respectively.
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
May 20, 2022 04:51 ET (08:51 GMT)
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