Surge in travel sales gives WH Smith Christmas treat despite high street slump January 23, 2019 WH Smith posted a rise in sales over the crucial Christmas trading season, after the retailer benefited from a rise in travel sales as it continues to move its focus from high streets to airports and train stations. The figures Total sales were up six per cent in the 20 weeks to 19 January. In [...]
City Pub Group toasts sales rise as it splashes out on new sites January 16, 2019 Pub owner City Pub Group today reported a rise in sales after strong Christmas trading and a spate of acquisitions. The pub chain saw a 1.6 per cent boost in like-for-like sales in the 52 weeks to the end of December, while turnover soared 22 per cent on the year before to £45.6m. Read more: Magic [...]
Reiss reports record results after product investment March 9, 2020 British fashion brand Reiss bucked the retail trend to report record-breaking results this morning. Earnings before interest, tax depreciation and amortisation soared 51.6 per cent to £29.3m in the 52 weeks to 1 February. The retailer said improved product quality has translated into more full-price sales, boosting profit. Full-year like-for-like sales jumped, driven by a [...]
M&S bolsters menswear team after skinny jeans fiasco February 12, 2020 Marks & Spencer (M&S) has appointed a new menswear buying director, after the retailer’s Christmas sales were dented when it ordered too many skinny jeans in the wrong sizes. M&S chief executive Steve Rowe has been battling to turn the clothing and home division around, but total revenue slumped 3.7 per cent in the third [...]
Investors fear slowdown as US Christmas retail drops February 14, 2019 US retail sales fell at their fastest rate in nearly a decade in December, stoking fears of a global slowdown, as shoppers watched their pennies over the vital Christmas period. Sales plunged 1.2 per cent, their largest monthly decline since the country was trying to recover from the financial crisis in September 2009. Read more: [...]
Angling Direct blames bad weather for disappointing performance February 18, 2020 Despite strong growth and expansion in the last year, bad winter weather have dented Angling Direct’s profits. The figures Angling Direct have announced a 41.3 per cent increase in in-store sales to £27.9m, and expects to report revenue of £53.1m. Online sales grew 13.3 per cent to £25.2m as Angling Direct focused more on its [...]
Littlewoods and Very owner Shop Direct enjoys Christmas sales bounce January 14, 2019 Very and Littlewoods operator Shop Direct saw a rise in revenues over the festive period, as Black Friday discounts and Christmas shopping boosted sales. Revenue climbed 3.7 per cent year-on-year for the seven weeks to 28 December, with clothing and footwear seeing a particular bounce, rising eight per cent at group level. Very, the company’s [...]
Why a second lockdown could turn the lights out on the UK economy October 5, 2020 We have reached a crucial flexion point in the fight against Covid-19, and with this comes new, tighter rules to curb a possible second wave. There is now rising concern that a second wave may result in a second national lockdown, and businesses are urgently seeking reassurance from the government that they will be able [...]
Third of retailers issue profit warnings in ‘bruising’ year for UK high street January 19, 2020 A third of retailers issued a profit warning last year following a “bruising” year for the UK high street. For the second year in a row, a third or more of the FTSE retailer sector warned on lower profits over the course of 2019. The number of profit warnings fell from 36 in 2018 to [...]
Laing O’Rourke agrees long-awaited refinancing terms with lenders January 8, 2019 Contractor Laing O’Rourke has finally agreed refinancing terms with its lenders after delays forced the company to postpone the publishing of its accounts for the last financial year by three months. The company said the terms, which were agreed over the Christmas period, delivered new banking facilities until 2022. The arrangements are currently in the [...]