A Christmas crunch caused more pain for British retailers on Thursday, with John...
British shoppers turned cautious in 2019 as wage growth slowed and uncertainty over Brexit gripped the country.
The prospect of employee-owned John Lewis Partnership, which runs the eponymous department stores business and up-market supermarket Waitrose, not paying a bonus for the first time since 1953 underlined how tough times are for some retailers. British greeting card retailer Card Factory said it expected lower annual earnings after the general election and weak consumer confidence hurt performance in the key Christmas period, sending its shares down 17%.
This more upbeat outlook echoed British clothing retailer Next , which raised its full-year profit forecast last week after a better-than-expected Christmas performance.In an indication of how hard supermarkets had to work over the festive period, Tesco said it had cut prices, delivered the best operational performance in six years and seen the biggest ever day of UK food sales in its history.
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