UK jobs report to show if Brexit is hurting the labour market - business live

The Guardian - Mar 19, 08:42 GMT

Rolling coverage of the latest economic and financial news, including the latest UK unemployment reportIntroduction: UK jobs report dayPay growth (including bonuses) may have slowed 8

Rolling coverage of the latest economic and financial news, including the latest UK unemployment report

Ouch! Shares in Bonmarché have slumped by 31% at the start of trading after it warned losses will be larger than expected this year.

This rather reflects the problems brands face as the spiral of discounting starts to sap consumer confidence – shoppers now expect to see 40-50% off everything and are less satisfied with smaller discounts.

Trading since the beginning of March has been significantly weaker, reversing sales gains made in the previous months.

Over in the City, shares in ASOS have tumbled 9% after reporting problems at its new US venture.

Our US performance was behind our plans during the period. As our Atlanta warehouse went fully online, demand far exceeded our expectations. Whilst very encouraging for the longer term, this caused a significant short-term despatch back log which we have now cleared.

We continued to outperform in the UK with sales growth of 14%. Sales in Europe were up 12%, although France and Germany, our two largest markets, continue to be challenging.

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