Retailers hit as consumers cut spending December 18, 2011 RETAIL sales are continuing to slump as consumer spending power is hit by inflation, government spending restraint and the Eurozone crisis, according to research published yesterday by the Centre for Economics and Business Research (CEBR). Spending is down 1.7 per cent compared with November, the CEBR claims, and down 0.3 per cent on last December [...]
Home Retail to slash dividend as Argo sales plunge January 12, 2012 Home Retail, Britain’s No. 1 household goods retailer, said it anticipated a significant cut in its full-year dividend as it posted a further slump in sales at its Argos business over the Christmas trading period. The firm said on Thursday the trading environment had been both “volatile and demanding” and forecast at year to end-February [...]
Home Retail to slash dividend as Argo sales plunge January 12, 2012 Home Retail, Britain’s No. 1 household goods retailer, said it anticipated a significant cut in its full-year dividend as it posted a further slump in sales at its Argos business over the Christmas trading period. The firm said on Thursday the trading environment had been both “volatile and demanding” and forecast at year to end-February [...]
Matalan enjoys a boost in turnover but warns of a tougher year ahead January 17, 2012 MATALAN has warned of tough trading to come as consumers continue to feel the pinch, despite the firm posting a rise in like-for-like sales and delivering its best sales week since 2005. The out-of-town fashion and homeware retailer said like-for-like sales increased by 9.9 per cent in the five weeks to 31 December, up from [...]
Tesco’s slice of market shrinks January 31, 2012 SUPERMARKET giant Tesco has seen its market share fall under 30 per cent for the first time in almost seven years as it struggled to recover from its dire Christmas trading performance, according to new data from Kantar Worldpanel. Tesco’s market share – based on a measure of how much money has gone through its [...]
Tesco hit by dismal Christmas January 12, 2012 Tesco, Britain’s biggest retailer, reported its worst Christmas sales performance for decades on Thursday and warned it would see minimal profit growth next year as it invests in winning back shoppers. The world’s third-largest stores group said on Thursday it now expected minimal trading profit growth for 2012/13 against analysts’ forecasts for a 10 percent [...]
Tesco hit by dismal Christmas January 12, 2012 Tesco, Britain’s biggest retailer, reported its worst Christmas sales performance for decades on Thursday and warned it would see minimal profit growth next year as it invests in winning back shoppers. The world’s third-largest stores group said on Thursday it now expected minimal trading profit growth for 2012/13 against analysts’ forecasts for a 10 percent [...]
Findel losses widen November 29, 2011 Findel’s adjusted pretax loss widened for the first half, but the British home shopping and sports-kit retailer said its largest unit was on track for a very strong Christmas with current trading ahead of last year. For the six months to 30 September, Findel reported a pretax loss before exceptional items and terminated operations of [...]
Thorntons issues profit warning December 21, 2011 Chocolatier Thorntons issued a profit warning as hard-up consumers stayed away from the 100-year-old group at one of its most important times of the year. The company’s shares plunged by more than 30 per cent after the announcement. Thorntons, which slashed its dividend in September, said it had been hurt by the continued weakness in [...]
Thorntons issues profit warning December 21, 2011 Chocolatier Thorntons issued a profit warning as hard-up consumers stayed away from the 100-year-old group at one of its most important times of the year. The company’s shares plunged by more than 30 per cent after the announcement. Thorntons, which slashed its dividend in September, said it had been hurt by the continued weakness in [...]