A round-up of today's other stories in brief
US retail sales reach five-month high on strong petrol receipts
Sales at US retailers posted their largest gain in five months in August on strong receipts at petrol stations and clothing outlets.
The US commerce department said retail sales rose 0.4 per cent, adding to data such as private payrolls and manufacturing for August that have pointed to a tentative improvement in the economy after a recent soft patch.
“The economy is no longer rapidly decelerating, but we are not out of the woods quite yet,” said Ryan Sweet, a senior economist at Moody’s.
It was the second consecutive monthly sales gain and was a touch above market expectations for a 0.3 per cent rise.
Sales were boosted by back-to-school buying and tax holidays in some states, with gains widespread across most categories. Car sales, however, fell 0.7 per cent. – (Reuters)
Supergroup set for further expansion
Supergroup, the British clothing company behind the Superdry brand worn by celebrities such as David Beckham, says it plans to expand its presence in Ireland after the company posted a 60 per cent rise in sales in the first quarter of 2010, writes Suzanne Lynch.
Chief executive Julian Dunkerton said the company was considering opening a branch in Cork and the Dundrum Town Centre in Dublin. The company currently has two stores in Ireland.
First-quarter retail sales at the listed company increased 62.7 per cent to £22.3 million.
40% believe now is a bad time to save
Only a quarter of people believe that now is a good time to save, according to the latest Nationwide UK
(Ireland) Savings Index.
The index found that 40 per cent of people believe now is a bad time to save.
The Nationwide UK (Ireland) Savings Index increased by three points in August, slightly down from the
four-point increase in July.
Nationwide UK (Ireland) managing director Brendan Synnott said the continued upward trend implied people were continuing to save and were taking the precautionary approach observed in 2009 and early 2010.
