What the analysts are saying about the M&S results: ‘Seismic change’ needed after ‘humiliating’ plans unveiled November 8, 2016 Retail experts have blasted Marks & Spencer's plans for a turnaround – even taking a swipe at the firm's recent collaboration with Alexa Chung – and warned that without "seismic change", the group risks continuing its "terminal decline" to its inevitable conclusion. Marks revealed a massive drop in profits this morning, and outlined plans to close [...]
September retail sales smash economist expectations paving the way for a record UK Black Friday 2015 October 22, 2015 There was good news for the high street after retail sales surged in September, boosted by the late August bank holiday weekend and beer sales related to the Rugby World Cup. Retail sales volumes jumped by 1.9 per cent on the month, smashing economist expectations of a 0.3 per cent rise, the Office for National [...]
Poundland’s share sale to fund purchase of 99p Stores hurts price September 25, 2015 Poundland yesterday placed £50m worth of new shares to fund its purchase of 99p Stores. The shares, which represent approximately 7.1 per cent of the company’s existing share capital prior to placing, were placed with institutional investors at 280p, which will be worth 275p to the company after expenses. JP Morgan Cazenove acted as sole [...]
Winners of the year 2015: Uber, Lidl and Tony Pidgley and other success stories December 6, 2015 In 2015 the UK's economy continued to steadily grow and employment reached new highs – it was a good year for business. There will be plenty of champagne corks popping and glasses clinking this Christmas period, and no one has more reason to do so this year than these companies and personalities. Read more: The seven [...]
Morrisons third quarter results: Sales fall again but chief executive David Potts remains upbeat November 5, 2015 Sales continue to fall at troubled supermarket Morrisons – but the new team headed by David Potts are putting a brave face on the turnaround process. The figures In the 13 weeks to 1 November, total sales excluding fuel were down two per cent, while like-for-like sales dropped 2.6 per cent. The supermarket, which is at the beginning of [...]
Food prices drop ahead of supermarkets’ pre-Christmas battle – Nielsen and BRC October 7, 2015 Food prices fell back into deflation in September, industry figures released today show, as the supermarkets prepare to battle it out for customer’s wallets in the run-up to Christmas. Nielsen and the British Retail Consortium (BRC)’s latest monthly index said food saw annual deflation for the first time in three months, falling sharply to [...]
Littlewoods owner Shop Direct posts record profits thanks to mobile sales boom October 27, 2015 Shop Direct has posted a 78 per cent leap in full-year profits thanks to booming mobile sales and a surge in customers flocking to its main website Very.co.uk. The online retailer, which pulled the shutters down on its catalogue business this year, said pre-tax profits reached a record £71.7m in the year to 30 June [...]
Post-iPhone 6s and 6s Plus launch: What to expect from Apple’s fourth quarter – earnings could send Nasdaq 100 to new high October 25, 2015 Apple is expected to get a nice earnings boost in the fourth quarter from the debut of the iPhone 6s and 6s Plus in September. Here's what to expect on Tuesday. The figures Earnings per share for the three months to the end of September are expected to come in at around the $1.87/$1.88 mark, up on [...]
Argos owner Home Retail Group hits back at claims it could be the next Comet October 21, 2015 Home Retail Group’s boss hit back at claims that Argos was at risk of becoming the next Comet, the collapsed electronics chain, after a profit warning sent shares crashing yesterday. The FTSE 250 retailer, which also owns Homebase, said investment in its new same day delivery service, weak sales of electrical goods, and uncertainty around [...]
M Restaurant’s Martin Williams on Wagyu, division bells and building a brand January 25, 2016 There is something of the Midas touch about Martin Williams. Forty minutes into an interview about his restaurants, M Threadneedle Street and M Victoria Street – currently two of the capital’s trendiest hangouts – he mentions his previous life as an actor. Despite being successful on stage and TV in his early twenties, the on-off [...]