Ocado sees biggest sales jump from pre-pandemic levels November 9, 2021 Ocado has been dubbed one of the big winners from Covid-related changes to shopping. Its sales have grown 35.7 per cent, the strongest increase out of all supermarkets, according to the latest figures from Kantar. The retailer’s market share stayed flat at 1.7 per cent. “Generally, online has done fantastically well in the pandemic, the [...]
The City View: Michael Hewson on why calls for a windfall tax are misplaced May 3, 2022 Today Andy Silvester talks to Michael Hewson, Chief Market Analyst at CMC Markets. They pick apart the arguments for a windfall tax on BP, discuss potential rate rises from the Fed and Bank of England, and go through the impact that China’s zero-Covid policy has had on manufacturing in the country. And in other news [...]
McColl’s warns of ‘softer’ trading as newsagent continues rescue talks April 25, 2022 McColl’s has acknowledged “softer trading” as customers hold back on spending while the chain continues to try secure a financial lifeline from partners. Shares tumbled some 50 per cent in early trading on Monday morning, after the retail firm gave an update on its rescue deal talks. In a trading update on Monday, the convenience [...]
Cake Box to open 20 new stores as Uber Eats and Deliveroo orders double sales October 4, 2021 Cake Box said this morning that its sales nearly almost doubled for the past six months amid a strong recovery in customer demand. The high street cream cake retailer said it was buoyed by its continued expansion, opening 20 new franchise sites over the six months to September, to bring it to a total of [...]
Just Eat slashes profit guidance for year and mulls sale of Grubhub April 20, 2022 Just Eat has said it has lowered its profit guidance for the year and is mulling the sale of its US arm Grubhub. The delivery service said that “management is currently, together with its advisers, actively exploring the introduction of a strategic partner into and/or the partial or full sale of Grubhub.” “There can be [...]
Asian stocks, oil prices fall as second wave fears grow June 15, 2020 Asian stocks stumbled on Monday and oil prices slipped as fears of a second wave of coronavirus infections in Beijing sent investors scurrying for safe-havens. Meanwhile, underwhelming data from China further weighed on investor sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.3 per cent with Australian shares off 0.1% and South [...]
Ted Baker shares spike as retailer reports Covid resilience July 21, 2020 Ted Baker shares swelled more than 10 per cent this morning, as the British fashion retailer reported a resilient balance sheet in the 11 weeks to 18 July, with strong online sales as shoppers were forced to turn to their screens during lockdown. The lifestyle brand saw a 35 per cent increase in e-commerce sales [...]
Mike Ashley’s Sports Direct and House of Fraser empire kicks off £70m share buyback plan December 13, 2021 Retail baron Miek Ashley has announced the start of a £70m share buyback plan for Frasers in an attempt to boost the company’s share price. Bosses at the group, which includes department store House of Fraser and retail chains Sports Direct and Game, said the plan is to reduce the number of shares in circulation. [...]
John Lewis launches cut-price fashion range September 7, 2021 Retailer John Lewis has announced it will launch a budget fashion range under its Anyday brand, as UK shoppers continued to be lured to fast-fashion online retailers. The company is expanding its line of affordable homeware and technology products to include menswear, womenswear and children’s fashion next week. Around 700 new clothing products – some [...]
Mt. Gox customers will have to wait until November before any lost Bitcoin funds are returned March 9, 2023 Almost a decade on, customers of collapsed crypto exchange Mt. Gox could see some of their Bitcoin funds returned by the end of the year.