GSK sees dip in impulse buys
Nikhil Kumar is The Independent's New York correspondent. He was formerly assistant editor on the foreign desk and has also done a variety of jobs on the city desk, where he wrote about markets, commodities and other business and economics topics.
Thursday 27 October 2011
The public are increasingly holding back from making impulse purchases, the chief executive of GlaxoSmithKline said, as he revealed that the company's UK consumer business had seen a slowdown in recent weeks.
"We have seen [a] slowdown in consumer purchase patters in the last six weeks or so," Andrew Witty said. "We are buying a little bit less impulse products – the kind of products you pick up in the garage after you fill your car up with petrol... products like Lucozade," he added, referring to the company's energy drink.
His comments came as the pharmaceuticals group issued third-quarter results showing that its sales had returned to growth. At £7.1bn, turnover was up 4 per cent on a year ago, slightly ahead of expectations.
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