Mega mail-order company Great Universal Stores Plc, Manchester, England, has reported that home-shopping sales fell 6% in the first quarter due to price competition from discount retailers.
In June, GUS said profit from home shopping plunged 80% amid increased competition from Matalan Plc and other discount retailers. Home-shopping sales from catalogs such as Great Universal and Kays fell 7% in May and June.
GUS said in a news report that sales increased at Experian, its largest contributor to profit after home shopping, though it didn’t provide financial details.
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