PM hit by row over debts on credit cards October 5, 2011 DAVID CAMERON was forced to hastily redraft parts of his conference speech yesterday, after he was widely criticised for pre-released extracts that called on Britons to repay their credit card debts. “The only way out of this crisis is to deal with your debts. That means households – all of us – paying off the [...]
SuperGroup sees pickup in sales September 7, 2011 Fashion chain SuperGroup has said its sales growth is picking up as revenues jumped to £54m in the three months to August, 66 per cent per cent higher than in the same period in 2010. SuperGroup, which sells Superdry-branded clothes, saw its wholesale sales almost double £21m in the period on higher international demand for [...]
Why crisis-hit Nintendo was my first real love October 30, 2011 It has been a mixed week for Nintendo. On Tuesday it hosted the last of three concerts to celebrate the 25th anniversary of one of its most successful and enduring franchises: The Legend of Zelda. Two days later it announced the first annual loss in its 122-year history, sending the company into crisis mode. Its [...]
HMV in talks with Russian billionaire over sale of bookseller Waterstone’s February 27, 2011 HIGH street bookseller Waterstone’s could be sold to a Russian billionaire by its owner HMV. The retailer is said to be holding talks over a potential sale to oligarch Alexander Mamut, a wealthy businessmen best known in Britain as the backer of blogging website LiveJournal. Mamut has already built a 6.1 per cent stake in [...]
M&B sales rise fuelled by food January 27, 2011 Pubs and restaurants group Mitchells & Butlers said it had seen strong trading over the Christmas period, boosted by food sales, but remained cautious on the outlook for consumer spending. The company, which has over 1,600 pubs and restaurants and whose chains include Harvester, All Bar One and Toby Carvery, said like-for-like sales in the [...]
Premier Foods profits fall as costs rise August 5, 2011 Food manufacturer Premier Foods said it was seeing an improving trend in its second half as it posted an expected 29 per cent fall in first-half profit, hit by higher commodity costs and a depressed consumer environment. The maker of Branston pickle, Bisto gravy and Hovis bread said Friday it made a trading profit for [...]
ASOS surge driven by overseas sales January 19, 2011 SALES at online fashion retailer ASOS soared by 59 per cent over the Christmas period – with its international performance driving the company forward. Overseas sales jumped by 156 per cent while poor weather in the UK hit deliveries. The firm said UK retail sales increased 23 per cent to £56.3m, in the three months [...]
New Look value halved after failure to float February 14, 2011 Fashion chain New Look’s value has cut by almost half by its private-equity backers after it failed to float with a £1.7bn price a year ago. The company has been hit by the ongoing tough consumer climate since it shelved its plans to float Last month it said it had been badly hit by the [...]
US corporate results cheer February 2, 2011 A BEVY of American corporations posted forecast-beating results yesterday, benefiting from a resurgence in advertising budgets and consumer spending over the Christmas period. Media giant News Corp said its quarterly net income had jumped from $254m (£157m) to $642m on the strength of its TV businesses, though a $500m settlement charge last year depressed comparable [...]
M&S sales up 4pc but warns of tough 2011 January 11, 2011 Marks & Spencer saw a four per cent rise in total UK sales in the 13 weeks to 1 January. Clothing was the best performer with a 4.7 per cent jump over the period. On a like-for-like basis UK sales were up 2.8 per cent. Chief Executive Marc Bolland said: “Marks & Spencer traded well [...]