The Week That Was: FMCG and Retail (20/12/18)
21st December 2018
Desperate stores are praying for a last-minute sales rush to save their Christmas – slashing prices in a bid to lure thrifty shoppers, according to the Mail Online. Despite Britons expected to spend almost £3 billion on their final Christmas – warnings of poor festive sales have sent the share prices of leading retailers tumbling in recent days, wiping billions off stock market values.
News this week that ASOS issued a profit warning on the back of a “significant deterioration” in sales growth came as a huge surprise to many. According to Sky, the online fashion retailer’s unscheduled trading update added to fears of a Christmas catastrophe for UK shops as ASOS has been one of the most consistent performers in recent years. Ho ho ho? Looks like no no no.
Tesco has come under fire this week for a sign in one of its stores advertising ‘girls toys’ which many people are calling ‘sexist’ – according to the Mirror. Putting an end to the heated debate, Tesco have admitted that the signs are no longer appropriate. Interestingly though, they forgot to mention the missing apostrophe from the sign!
Waitrose has vowed to ban glitter from own-brand products by 2020, according to The Guardian. The retailer says it will find other ways to make products sparkle in effort to stem plastic waste. Waitrose said its own-label cards, wraps, crackers, tags, flowers and plants will either be glitter-free or use an environmentally friendly alternative.
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