US ratings agency Fitch out with a note on the UK retail sector 13 April
- the collapse of UK fashion retailer Jaeger and weak non-food sales figures from BRC reinforce our negative sector and ratings outlooks for the European retail sector
Not just the UK. Not a happy picture for many economies. Throw in wages not keeping up with inflation and the concerns are understandable.
Jaeger went into administration on Monday after pvt equity owner Better Capital failed to find a buyer. Other prime UK retail failures in the past year inc BHS and Austin Reed.
BRC figures for Q1 2017 non-food retail sales were down -0.8% than a year earlier, worst quarterly performance in almost 6 years.
GBPUSD still trawling around session lows of 1.2540
