Hong Kong recession deepens due to coronavirus pandemic May 4, 2020 Hong Kong’s recession deepened in the first quarter as its economy, which had already been impacted by anti-government protests last year, was hit by the coronavirus pandemic. Hong Kong’s economy shrank by 5.3 per cent in the first quarter of this year compared to the previous quarter. On an annual basis the economy contracted 8.9 [...]
UK factory output falls at fastest pace since records began June 22, 2020 Britain’s manufacturing output has fallen at its fastest pace since records began during the three-month coronavirus lockdown. It comes as the sector remains in a deep downturn because of the pandemic, according to the latest report on UK factories by the Confederation of British Industry. The CBI’s manufacturing output gauge dropped from minus 54 per [...]
Bleak outlook: Asos ‘not keeping up with fast fashion rivals’ after supply chain pressures October 11, 2021 Online retailer Asos’ share price took a bruising yesterday amid a “massive warning shot across the bows of other online retailers.” The fashion firm’s CEO Nick Beighton made a shock resignation yesterday after six years in the role as shares were down 50 per cent on the year. Shares fell by 14 per cent on [...]
Navigating the UK’s economic recovery – a sector analysis September 4, 2020 We are living through extraordinary economic times. There is no hiding from the fact that this is a deep recession, and one that provides ample risk for investors. Recent GDP figures paint a gloomy picture and suggest that it will take some time for the economy to fully heal from Covid-19. The good news is [...]
Games Workshop shares slump despite sales surge over lockdown July 27, 2021 Games Workshop shares slipped today despite the gaming and miniature figures retailer recording a spike in sales as Brits got on its ware to relieve lockdown. The Nottingham-based firm’s pre-tax profits surged 69 per cent, hitting nearly £151m in the year to 30 May. Revenue rose 31 per cent to £353m due to a hike [...]
24m cats and dogs in UK: Pet food giant Jollyes eyes 20 new shops as pet ownership explodes August 31, 2021 To deal with increased demand from Brits who bought animals during the pandemic, pet food seller Jollyes said this morning will create around 150 new jobs as it opens 20 new shops. The company stressed it had seen significant growth over the past two years and was accelerating its plans by opening the new sites [...]
Marks & Spencer stores stop selling suits as shoppers opt for casual wear August 31, 2021 More than half of Marks & Spencer stores across the country have stopped stocking suits as office working falls out of fashion. Just 110 out of the retailer’s 254 clothing stores are still selling suits as consumers opt for more relaxed outfits in the wake of coronavirus lockdowns. Shoppers bought 2m men’s suits in the [...]
Private equity firms readying bids for Boots after owner puts chain on sale for £7bn January 16, 2022 Private equity firms are readying to enter the auction for high street chemist Boots after its American owner Walgreens Boots Alliance put the chain on the market for £7bn.
FTSE 100 today: London markets set to open higher if UK inflation falls in line with expectations May 22, 2024 Asian indices mixed despite Wall Street's record highs; RBNZ kept rates steady. Investors await UK CPI, Fed minutes, and Nvidia earnings.
Sofa retailer DFS warns fewer house sales will impact trading September 26, 2019 Furniture retailer DFS this morning warned that weakening consumer confidence and a slump in housing transactions has impacted sofa sales. The figures The company has changed its accounting reference date to 30 June, meaning this morning’s results cover a shortened 48 week period. Read more: DFS warns investors of volatile political threat to sales Profit [...]