Retailers rocked by sales shocker May 6, 2016 The high street has suffered its sharpest drop in sales since the credit crunch as retailers battle erratic weather, increasing competition from online rivals and jittery consumer confidence. Like-for-like sales fell by 6.1 per cent in April compared with the same month last year, according to BDO’s latest monthly tracker, published this morning. The accountancy [...]
Paris Primark: Gunmen hold up store in suspected armed robbery in suburb of Villeneuve-la-Garenne July 13, 2015 Gunmen have held up a Primark store in the suburbs of Paris in a suspected armed robbery, with several people reportedly held hostage. The Primark store is located in the Qwartz shopping centre in Villeneuve-la-Garenne, an area to the north of the centre of Paris. Further reports say around 18 people have been evacuated from [...]
BHS administration: Who has blood on their hands as yet another retailer falls into administration? April 25, 2016 The loss of a UK retailing stalwart from our high streets is always a sad affair. There is, of course, a sense of nostalgia as old photos of where we once shopped appear. And the human tragedy of those losing their livelihoods – in the case of BHS that’s 10,000 current employees, and thousands more [...]
Companies warned over the risk of foreign exchange swings as volatility set to continue throughout 2016 March 1, 2016 International companies are being warned that swings in the value of the pound mean risk is building in the foreign exchange market as levels of uncertainty in 2016 are anticipated to be similar to last year. The pound has dropped considerably against both the dollar and the euro so far this year as worries around a [...]
FTSE 100 index falters as the price of oil slides January 14, 2016 The FTSE 100 index opened down this morning as the price of oil continued to linger around $30 a barrel. The UK's blue-chip index opened 1.68 per cent down at 5,860 points. "For the first time this year the FTSE 100 managed to post two positive days in a row yesterday, buoyed by a rebound in [...]
BHS administration “more significant than Woolworth’s” as cost to taxpayer stacks up April 26, 2016 The collapse of BHS could be "more significant than Woolworths" – and the business is unlikely to survive in any meaningful form, experts have told City A.M. Parent company Retail Acquisitions called in administrators Duff & Phelps yesterday afternoon, a year after buying the debt-laden business from Sir Philip Green for £1. Managing directors Phil [...]
Ralph Lauren shares plunge as luxury fashion group slashes forecasts, blaming mild weather February 4, 2016 Ralph Lauren shares have plummeted by nearly 18 per cent after the US fashion brand reported a worse-than-expected decline in third quarter sales, blaming the mild winter weather and fewer tourists visiting its stores. The luxury goods group, whose brands include Polo Ralph Lauren and Club Monaco, said net revenues fell by four per cent, or one [...]
FTSE 100 opens flat despite Standard Chartered’s share price plummeting after announcing 15,000 job cuts November 3, 2015 The FTSE 100 opened flat this morning, after finishing yesterday's session in the same manner. The UK's top blue chip index rose 0.13 per cent to 6,370 points on opening, but fell back to 0.04 per cent down at 6,359 points after five minutes. Standard Chartered's shares were down just over six per cent as the market [...]
Associated British Foods’ share price falls as Primark sales fail to sweeten sugar business April 21, 2015 The figures Primark owner Associated British Foods (ABF) felt the pinch from falling sugar prices in its first half, with pre-tax profit across the group halving to £213m for the six months to the end of February, compared with £434m during the same period last year. The news caused shares in ABF to open three per cent down. [...]
Tesco, Sainsbury’s and M&S are among most praised companies by NGOs but VW and Royal Dutch Shell make “naughty” list of most criticised January 18, 2016 Tesco, Sainsbury's and M&S are certainly not having the best of times on the high street these days, but there's one place their winning at least. The three are among several of the biggest global companies to make a "nice" list of companies which pressure groups and campaigners across the world, from the likes of Which? to Greenpeace, have [...]