skip to main content
Find Insight DIY on
* * *

UK DIY News

Investors shun High Street on spending fears

The prospect of higher prices and belt-tightening are threatening to blow the high street recovery off course, leading retailers have warned.

Fashion chain Next and flooring specialist Carpetright believe the outlook for consumer spending remains poor.

Next was the sharpest faller on the FTSE 100 after highlighting public spending cuts and looming tax rises as key threats to confidence in the sector.

It saw underlying sales slip 1.5% in the first half of the year and expects that performance to deteriorate further despite strong homewares demand.

Carpetright added to the gloom by reporting a drop-off in trade and a subdued forecast for the immediate future. The chain's shares dropped by more than 3% on its news of a 3.4% fall in first quarter sales.

Shares in fellow retailers Marks & Spencer, B&Q owner Kingfisher and Home Retail - the group behind Argos and Homebase - also suffered on the FTSE following the disclosures.

Source : James Sillars - Sky News online

04 August 2010
view more UK DIY News
*

Insight provides a host of information I need on many of our company’s largest customers. I use this information regularly with my team, both at a local level as well as with our other international operations. It’s extremely useful when sharing market intelligence information with our corporate office.

*
Paul Boyce - European CEO, QEP Ltd.
Newsletters

Don't miss out on all the latest, breaking news from the DIY industry