A Further Drop in High Street Sales

reblogged from i-thorts' i-Politics

British Supermarkets Suffers 

Drop in Consumer Sales

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.