04 May 2016 by lberuti
This morning two of UK’s leading retailers released their numbers, highlighting that whether you are selling clothes or food it is a tough business to be in at the moment. NXT ( Next Plc ) said it had been a tough start of the year and the company cut its sales outlook for the second time in six weeks, as “the weakness in the quarter maybe indicative of weaker underlying demand for clothing and a potentially wider slowdown in consumer spending”. SBRY ( J Sainsbury Plc ) reported a mixed set of results and said it sees no let-up in the competition and deflation that have characterised the supermarket industry in recent years. With both companies’ disappointing numbers and cautious outlooks, it was not surprising to see the UK retailers underperform other companies in the broader "Food and Retail" cluster identified by DataGrapple.