The Canadian PressJanuary 9, 2014 08:47
LONDON - Some major U.K. retailers are reporting dismals sales in the critical Christmas period despite a rise in consumer confidence.
Tesco, Britain's largest retailer by revenue, said sales in the U.K. dropped 2.4 per cent in the six weeks to Jan. 4 when not counting new store openings. CEO Philip Clarke blamed "further weakness" in the grocery market.
Things were worse at Morrisons, which reported a drop of 5.6 per cent.
James McGregor, a consultant at Retail Remedy, says M