- CNTV English - CCTV News

Europe's retail markets hit by cold weather

01-15-2011 09:15 BJT

Watch Video

Play Video

As cold weather continues in Europe, the continent's retail markets are ALSO feeling the chill. Retailers are taking measures to cope with the bad weather and rising taxes. The story comes from Reuters.

The cold weather in Britain, may have kept some shoppers away from the high street during peak season.But UK retailer John Lewis saw sales rocket last week as shoppers snapped up furniture and electrical goods ahead of the rise in VAT. They saw sales leap up 38.7 percent year-on-year, with an increase in online sales of 42 percent.

Employee-owned John Lewis is being helped by its more affluent customer base who are coping better with rising taxes and government spending cuts. Britain's sales tax increased from 17.5 percent to 20 percent, it's just one of the UK government's austerity measures.

Across the Channel in France, Carrefour kept its 2010 profit goal and just beat sales forecasts for its fourth quarter, rising five percent to 27.12 billion euros.Europe's biggest retailer weathered the storm due to strong growth in its emerging markets, where its European outlets were hit by the bad weather and ongoing budget cuts.

The retailer plans to more than double profits by 2015 in a hypermarket revamp plan.




Editor:Zhang Pengfei |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program