Economic woes shift spending patterns, continued

Further evidence of ways in which a slowing economy brings grief to some and benefit to others:

The Times reports that Comet faces the prospect of slipping into the red. The electrical retailer has revealed yesterday that the chain’s like-for-like revenue had fallen by 9.9 per cent in the three months to July 31 - its worst quarterly sales performance for at least five years.

Elsewhere, Supermarket chain Morrisons has thanked bargain-hungry shoppers for a solid rise in half year profits. Pre-tax profits before one-offs surged 19% to £295m in the six months to 3 August from £241m in 2007. Follow more on this story at Bargain hunters boost Morrisons ; one of the supermarket brands consumers associate with lower prices.