Retailers' results are mixed bag

LONDON - Retail sales slowed in July and August, with in their weakest performance since May.

Retailers' results are mixed bag

The textile, clothing and footwear sector declined by 1.3%, while overall sales were just below the predicted 0.1% growth, according to the Office of National Statistics.

Results on Thursday reflected this sluggishness of retail sales. The French Connection lost £12.8m before tax in the six months to August, compared with a loss of £5.4m last year.

The John Lewis Partnership, reported mixed results. Profits fell from £107.3m in the first half of last year, to £86.3m for the same period this year. However, Waitrose's Essentials range boosted the supermarket's profits by £19.1m.

Kingfisher has reported a 35% rise in half-year profits yesterday, which it put down to the success of its revamped B&Q stores.

 

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