London bucks retailer gloom July 21, 2008 Central London retailers are defying the economic gloom, according to figures from the British Retail Consortium. Retail sales in June were 8.7 per cent higher than a year ago, although the rate of growth is weaker than in 2007 when an increase of 11 per cent was reported. Footfall was also higher than in June [...]
Inflation surge bites July 15, 2008 Bank of England rate setters face another tough decision as fresh evidence emerges that soaring inflation and sluggish high street sales continues to put pressure on consumer’s pockets and the wider economy. Prices charged by manufacturers at the factory fate rose by 10 per cent in June – the highest rate since comparable records began, [...]
OFT slams ‘too high’ Visa fees October 20, 2005 The Office of Fair Trading (OFT) stepped up its assault on British banks yesterday, announcing an in-depth inquiry into Visa fees. The investigation relates to so-called “interchange fees” which are levied by high street banks on retailers when they process Visa credit card transactions. In a related investigation into Mastercard fees, the OFT last month [...]
Theft costs shopkeepers £2.13bn October 19, 2005 Shoplifting and violence against shop workers reached new heights last year as store chiefs picked up a £2.13bn bill for retail crime. According to the British Retail Consortium’s annual crime survey, customer theft alone cost the retail sector £589m, a staggering 44 per cent increase from 2003. The value of losses blamed on staff also [...]
Violet Hue October 18, 2005 Tchenguiz is the last man standing in the race for Somerfield. Another one bites the dust. Amid talk of a high-street bloodbath in the run-up to Christmas, Somerfield has joined the lengthening list of retailers opting to leave the glare of the stock market. Of course, the announcement surprised no one. Somerfield has been on [...]