Retail sales up 0.6pc in December January 20, 2012 UK retail sales volumes rose by 0.6 per cent in December, official figures show, after heavy discounting by stores. The Office for National Statistics (ONS) also said that sales rose by 2.6 per cent over the year to December. The sales figure for November was revised down to show a fall of 0.5 per cent, [...]
IMF growth gloom and poor data in manufacturing send FTSE lower October 9, 2012 UK shares fell for a second session yesterday, dented by a wary view of Europe’s debt troubles and concerns that gloomy global economic data bodes ill for the upcoming corporate earnings season. Data showed manufacturing output shrank more than expected in August and exports fell steeply, pointing to deterioration both in the domestic and the [...]
Fee paying banking will be a very tricky sell July 22, 2012 MARKS & SPENCER ruffled some feathers last week when it announced that it would be charging for the use of its current account – between £15 and £20 a month, depending on whether you want insurance included. In return, customers will receive vouchers for free hot drinks in M&S cafés, M&S vouchers worth £40 and [...]
Webster to step down as IHG chairman February 5, 2012 DAVID Webster, the long-standing chairman of Intercontinental Hotels Group, is to stand down after eight years at the helm of the world’s largest hotel group. A source close to Webster said that no date had been set yet for his departure, but that he is likely to leave later this year. The owner of Holiday [...]
FTSE dwindles as defensive stocks drop ahead of Fed and euro news September 10, 2012 BRITISH blue chip shares dipped yesterday as weakness in defensive stocks outweighed strength in risk-sensitive cyclicals, such as miners, and investors positioned for more newsflow out of Europe and the United States. The FTSE 100 closed down 1.60 points, or 0.03 per cent, at 5,793.20, with the index yo-yoing in a tight range around the [...]
M&S prepares to launch bank June 7, 2012 UPMARKET retailer Marks & Spencer is set to launch a retail bank in its stores, the firm is expected to announce today. Initially it aims to launch the service in its Marble Arch branch, with plans to expand to up to 50 outlets before the end of the year. Starting with current accounts, it is thought that [...]
THE TIPSTER | Diageo set to toast sales August 20, 2012 THE international spirits maker and brewer, Diageo, will report earnings on Thursday. Currently on the cusp of buying Jose Cuervo tequila, the share price has increased by 13 per cent over the last six months and 50 per cent year-on-year. As with its last earnings report, it appears that the majority of revenue for the [...]
Here is the Next step for Marks & Spencer to take November 8, 2011 TWENTY years ago, the UK was in recession and Marks & Spencer had just changed its boss: some things never change. Under Rick Greenbury, M&S went on to have a good 1990s, before over-expansion led to the inevitable and painful correction, under a new management team. Twenty years on, the competition is much tougher and [...]
Next shrugs off rain and beats profit forecasts August 1, 2012 SHARES in Next leapt almost seven per cent yesterday after the fashion retailer raised its profit guidance and beat targets for first-half sales growth, boosted by a stellar performance at its online Directory business. The company, which trades from over 500 stores in the UK and Ireland and nearly 200 stores overseas, said total sales [...]
It’s not just any sales fall, it’s an M&S sales fall July 8, 2012 MARKS & SPENCER’s trading update tomorrow is likely to suggest that the high-street stalwart has been particularly weather-beaten in the first quarter of the year. Not only in the face of the wettest spring on record – which it is expected to blame for a 6.7 per cent decline in non-food sales – but also [...]