Sainsbury’s hit by worst Xmas sales in 10 years January 7, 2015 SAINSBURY’S said yesterday that a surge in demand for its top-end food ranges and clothing helped the retailer beat Christmas forecasts, despite posting its first drop in festive sales in over a decade. Like-for-like sales, excluding fuel, dropped by 1.7 per cent in the 14 weeks to 3 January, as total sales fell by 0.4 [...]
Operations for bosses leaves UBM rudderless January 7, 2015 BRITISH events group UBM announced yesterday it would be without its chairman and chief executive officer for at least two months, with both having taken medical leave to recover from operations. Chairman Dame Helen Alexander is currently recovering from a recent unspecified operation and is expected to return to work in March. Chief executive Tim [...]
Jobs market in City surged by one fifth in 2014 January 4, 2015 CITY hiring jumped by a fifth last year, as the continuing UK recovery and increased business confidence opened up 33,063 new jobs. And recruitment firm Astbury Marsden says that healthier market conditions in the City means many workers are expecting bigger bonuses for their performance last year. Figures showed an 18 per cent jump in [...]
Abercrombie & Fitch share price rises as top boss Michael Jeffries resigns December 9, 2014 Controversial Abercrombie & Fitch boss Michael Jeffries resigned yesterday, sending the clothing company’s share price up by around eight per cent. The struggling teen fashion giant, which has suffered disappointing sales in recent years, has hired an executive search firm to find a replacement chief executive after Jeffries’ resignation, which is effective immediately. In a [...]
FTSE rebounds on expectations of European QE – London Report January 7, 2015 Britain’s top equity index gained nearly one per cent yesterday, rebounding from a three-week low as Eurozone consumer price data raised expectations of new stimulus from the European Central Bank. The blue chip FTSE 100 index, which had fallen in the last three sessions and hit its lowest since mid-December on Tuesday, finished 53.32 points, [...]
Next’s share price soars as profit guidance raised and special dividend declared December 30, 2014 Next’s share price has soared this morning on the back of a new forecast, revising its profits back up. Christmas at Next was at the better end of the retailer’s forecast, with sales for the 58 days until Christmas Eve up 2.9 per cent year on year. Much of that came from Next Directory, which [...]
Lidl and Aldi see spending growth soar over 30pc December 14, 2014 Discount supermarkets, such as of Lidl and Aldi, are on track to be the clear winners in the lead up to Christmas with year-to-date spend growth of 31 per cent. Meanwhile, their mainstream rivals, including the big four of Tesco, Asda, Sainsbury’s and Morrison’s, have seen spending fall 4.1 per cent in the same period, [...]
Why is the first quarter the worst time of year for retail administrations? January 6, 2015 Hating January already? Be thankful you're not a retail business, because the festive hangover is even more brutal for them. The first quarter has been consistently the biggest period for retail failures looking back over the past three years – and experts believe 2015 could see even more companies collapse as the repercussions of [...]
Black Friday 2014 lifts UK retail growth to 10-year high December 18, 2014 UK retail sales growth surged to a 10-year high in November thanks to roaring trade on Black Friday weekend, when retailers offered discounts on thousands of products. Falling commodity prices and the ongoing supermarket price wars have left households better off and helped boost consumer spending. Retail sales volumes rose 1.6 per cent on the [...]
Mayor Boris Johnson will meet with rail bosses tomorrow after second day of chaos at London Bridge station January 7, 2015 London Mayor Boris Johnson's meeting with rail bosses tomorrow is likely be dominated by the fallout of another disastrous day of overcrowding at London Bridge station. The Mayor's meeting with senior staff at Network Rail was already on the books before commuters suffered a second day of delays and "dangerous overcrowding". Johnson will demand the [...]