


By James Davey
LONDON (Reuters) -Updates next week from Britain's biggest retailers including Tesco (OTC:TSCDY), Sainsbury's and Marks & Spencer (OTC:MAKSY) are expected to confirm that while Christmas was not the disaster that some had feared, consumer demand is set to weaken in 2023, denting profit.
Ahead of Christmas, European retailers fretted that the key trading period could be the worst in at least a decade.
But in Britain, despite UK inflation running at 10.7% and consumer confidence close to record lows, retailers that have reported so far on festive sales, including clothing retailer Next, fast food chain Greggs and discounters B&M and Aldi UK have performed well.
Though train and postal workers strikes caused some disruption to trade, Christmas 2022 was the first not impacted by COVID-19 restrictions since 2019 and despite the ongoing cost of living challenges Britons appear to have prioritised festive spending.
But the consumer outlook for 2023 is poor, with the government's budget watchdog having predicted the biggest squeeze on living standards since records began in the 1950s.
Next, often acclaimed as a bellwether for the UK consumer economy, said it expected sales and profit to fall in 2023.
The strain on Britons' household budgets is likely to begin to tell this month as Christmas credit card bills arrive.
UK consumers will this year face persistent inflation in essential goods, particularly food and energy.
They also face scaled back government support on household energy bills and some higher taxes, while a lot will have to deal with higher mortgage costs as their fixed interest rate deals expire.
PROFIT DECLINE
Monthly till data from market researcher Kantar has already showed Tesco and Sainsbury's grocery sales rose 6.0% and 6.2% respectively in the Christmas quarter, albeit with volumes down, so the likely focus of their own updates will be the profit outlook.
"We sense that the UK supermarkets have gained overall share of retail expenditure in December as folks focused upon food and beverages in particular," said Shore Capital analyst Clive Black.
Most analysts expect Tesco to reaffirm guidance, that was edged down in October, for 2022-23 retail adjusted operating profit of 2.4-2.5 billion pounds, down from the 2.65 billion made in 2021-22.
Sainsbury's current guidance is for 2022-23 underlying pretax profit of between 630 million and 690 million pounds, down from the 730 million pounds made in 2021-22.
Analysts see Sainsbury's as more challenged than other supermarket groups because its ownership of the Argos general merchandise business leaves it more exposed to pressure on consumers' disposable income.
Clothing and food group Marks & Spencer is also expected to report a rise in sales - with analysts at Barclays (LON:BARC) forecasting sales growth over the Christmas quarter of 4.7% in food and 5.7% in clothing and homewares.
M&S's apparel business will likely have benefited from Britain's severe cold snap in December which Next said dramatically boosted sales.
However, M&S has already forecast profit to fall in its 2022-23 year, having warned in November of a "gathering storm" of higher costs and pressure on household budgets.
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EUR/USD
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AUD/USD
0.6469
-0.0003 (-0.05%)
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USD/CAD
1.3780
+0.0003 (+0.03%)
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EUR/JPY
168.32
+0.10 (+0.06%)
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EUR/CHF
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+0.0001 (+0.01%)
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Gold Futures
2,295.80
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Silver Futures
26.677
+0.023 (+0.09%)
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Copper Futures
4.5305
-0.0105 (-0.23%)
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Indicators:
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Crude Oil WTI Futures
81.14
-0.79 (-0.96%)
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Brent Oil Futures
85.62
-0.71 (-0.82%)
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Natural Gas Futures
1.946
-0.009 (-0.46%)
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US Coffee C Futures
213.73
-13.77 (-6.05%)
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Sell (9)
Indicators:
Buy (0)
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Euro Stoxx 50
4,920.55
-60.54 (-1.22%)
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Sell (8)
Indicators:
Buy (1)
Sell (7)
S&P 500
5,035.69
-80.48 (-1.57%)
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Indicators:
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DAX
17,921.95
-196.37 (-1.08%)
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FTSE 100
8,144.13
-2.90 (-0.04%)
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Hang Seng
17,763.03
+16.12 (+0.09%)
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US Small Cap 2000
1,973.05
-42.98 (-2.13%)
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IBEX 35
10,854.40
-246.40 (-2.22%)
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BASF SE NA O.N.
49.155
+0.100 (+0.20%)
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Sell (12)
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Buy (1)
Sell (7)
Bayer AG NA
27.35
-0.24 (-0.87%)
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Sell (12)
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Sell (8)
Allianz SE VNA O.N.
266.60
+0.30 (+0.11%)
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Sell (12)
Indicators:
Buy (3)
Sell (5)
Adidas AG
226.40
-5.90 (-2.54%)
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Buy (0)
Sell (12)
Indicators:
Buy (2)
Sell (7)
Deutsche Lufthansa AG
6.714
-0.028 (-0.42%)
Summary
NeutralMoving Avg:
Buy (3)
Sell (9)
Indicators:
Buy (9)
Sell (1)
Siemens AG Class N
175.90
-1.74 (-0.98%)
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Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (9)
Deutsche Bank AG
15.010
-0.094 (-0.62%)
Summary
NeutralMoving Avg:
Buy (4)
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Indicators:
Buy (6)
Sell (2)
EUR/USD | 1.0658 | ↑ Sell | |||
GBP/USD | 1.2475 | ↑ Sell | |||
USD/JPY | 157.91 | ↑ Buy | |||
AUD/USD | 0.6469 | Neutral | |||
USD/CAD | 1.3780 | ↑ Buy | |||
EUR/JPY | 168.32 | ↑ Buy | |||
EUR/CHF | 0.9808 | Neutral |
Gold | 2,295.80 | ↑ Sell | |||
Silver | 26.677 | ↑ Sell | |||
Copper | 4.5305 | ↑ Buy | |||
Crude Oil WTI | 81.14 | ↑ Sell | |||
Brent Oil | 85.62 | ↑ Sell | |||
Natural Gas | 1.946 | ↑ Sell | |||
US Coffee C | 213.73 | ↑ Sell |
Euro Stoxx 50 | 4,920.55 | ↑ Sell | |||
S&P 500 | 5,035.69 | ↑ Sell | |||
DAX | 17,921.95 | ↑ Sell | |||
FTSE 100 | 8,144.13 | Sell | |||
Hang Seng | 17,763.03 | ↑ Sell | |||
Small Cap 2000 | 1,973.05 | ↑ Sell | |||
IBEX 35 | 10,854.40 | Neutral |
BASF | 49.155 | ↑ Sell | |||
Bayer | 27.35 | ↑ Sell | |||
Allianz | 266.60 | ↑ Sell | |||
Adidas | 226.40 | ↑ Sell | |||
Lufthansa | 6.714 | Neutral | |||
Siemens AG | 175.90 | ↑ Sell | |||
Deutsche Bank AG | 15.010 | Neutral |
Mua/Bán 1 chỉ SJC # So hôm qua # Chênh TG | |
---|---|
SJC Eximbank | 8,300/ 8,500 (8,300/ 8,500) # 1,298 |
SJC 1L, 10L, 1KG | 8,300/ 8,520 (0/ 0) # 1,510 |
SJC 1c, 2c, 5c | 7,380/ 7,550 (0/ 0) # 540 |
SJC 0,5c | 7,380/ 7,560 (0/ 0) # 550 |
SJC 99,99% | 7,370/ 7,470 (0/ 0) # 460 |
SJC 99% | 7,196/ 7,396 (0/ 0) # 386 |
Cập nhật 01-05-2024 10:45:19 | |
Xem lịch sử giá vàng SJC: nhấn đây! |
ↀ Giá vàng thế giới | ||
---|---|---|
$2,285.72 | -47.5 | -2.04% |
ʘ Giá bán lẻ xăng dầu | ||
---|---|---|
Sản phẩm | Vùng 1 | Vùng 2 |
RON 95-V | 25.440 | 25.940 |
RON 95-III | 24.910 | 25.400 |
E5 RON 92-II | 23.910 | 24.380 |
DO 0.05S | 20.710 | 21.120 |
DO 0,001S-V | 21.320 | 21.740 |
Dầu hỏa 2-K | 20.680 | 21.090 |
ↂ Giá dầu thô thế giới | |||
---|---|---|---|
WTI | $80.83 | +3.39 | 0.04% |
Brent | $85.50 | +3.86 | 0.05% |
$ Tỷ giá Vietcombank | ||
---|---|---|
Ngoại tệ | Mua vào | Bán ra |
USD | 25.088,00 | 25.458,00 |
EUR | 26.475,36 | 27.949,19 |
GBP | 30.873,52 | 32.211,36 |
JPY | 156,74 | 166,02 |
KRW | 15,92 | 19,31 |
Cập nhật lúc 10:45:15 01/05/2024 Xem bảng tỷ giá hối đoái |