British Supermarkets Suffers
Drop in Consumer Sales
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| Consumer Spending (Photo credit: 401(K) 2012) |
"Supermarket chain Morrisons has reported a dip in sales and profits, blaming the continued pressures on consumer spending... Chief executive Dalton Philips said the figures reflected 'sustained pressure on consumer spending'." - Morrisons sales and profits fall BBC News.
Morrisons, being the 4th largest supermarket, isn't the only casualty recently hit by the UK Recession.
"Co-operative Group profits fall by a third"Last updated Thu 23 Aug 2012 -ITV NEWS - Tweet 8:07am, Thu 23 Aug 2012
The report by (ITV News a couple of weeks ago) that the Co-operative Group profits fell by one third - due to food sales suffering aggressive competition from other supermarkets - while the banking arm was also struck by the double-dip.
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