Carpetright profit tumbles 28 per cent December 14, 2010 Britain’s biggest floor coverings retailer, posted a 28 per cent drop in first-half profit as sales were dented by weak consumer confidence and sluggish mortgage approvals. The firm, which runs 584 stores in the UK and Ireland and 118 in The Netherlands and Belgium, made an underlying pretax profit of £10m in the 26 weeks [...]
Carpetright profit tumbles 28 per cent December 14, 2010 Britain’s biggest floor coverings retailer, posted a 28 per cent drop in first-half profit as sales were dented by weak consumer confidence and sluggish mortgage approvals. The firm, which runs 584 stores in the UK and Ireland and 118 in The Netherlands and Belgium, made an underlying pretax profit of £10m in the 26 weeks [...]
Snow losers for traders looking for volatility January 16, 2011 THE Christmas trading results branded companies as either winners or “snow losers” last week. Tesco shocked the market by offering figures that analysts felt paled in comparison to Sainsbury’s. Thanks to 12,000 tonnes of grit, the supermarket deserved to take the title of winner of the festive race. Toy, clothing and leisure retailers also offered [...]
Kesa profit squeezed by Comet sales January 19, 2011 ELECTRICALS retailer Kesa yesterday warned that profits would be at the lower end of expectations due to weaker sales at its UK chain Comet. Total like-for-like sales for the period between 1 November and 18 January were down four per cent. But Comet sales plummeted 7.3 per cent as tough competition, lukewarm consumer sentiment and [...]
FirstGroup on track despite £7m snow bill January 13, 2011 THE UK’s largest rail operator FirstGroup said it was on track yesterday to hit its earnings and cash targets for the year, with 2010 results in line with expectations. The upbeat outlook comes despite the company’s statement that snow disruption to its UK bus and rail networks made a £7m dent in profits in December. Both of [...]
Businesses can’t blame it all on weatherman January 30, 2011 WON’T blame it on myself, I’ll blame it on the weatherman”. So sang rubbish Irish girl group B*Witched in their 1999 number one hit. Over a decade later business leaders are following their lead. In December it snowed in the UK. In January we heard that people bought fewer Airfix models and drank less beer. [...]
Consumer confidence plunges December 17, 2010 Consumer morale plunged in November to its lowest since the UK was in the depths of recession, as the announcement of government spending cuts raised fears over the future, a survey showed. The Nationwide Consumer Confidence index fell 7 points to 45 in November, its fourth consecutive fall and the lowest since March 2009. The [...]
Retailers boost recovery hopes February 7, 2011 Spending on the UK’s high streets bounced back in January after December’s sales were hit by heavy snow, it will be revealed today. The news comes after the FTSE jumped 53.65 points yesterday – a rise of 0.89 per cent – breaking through the confidence-boosting 6,000 mark to close at 6,051.03. Retail sales were up [...]
CSR provokes consumer fears November 29, 2010 CONSUMER confidence in the UK tumbled in November, according to European Commission (EC) data released yesterday. The indicator dropped to an 18-month low of -18.4. The news comes as a surprise after recent figures showed a boom in retail sales shooting upwards. The EC findings were “undoubtedly the consequence” of the coalition’s spending review, according [...]
CSR provokes consumer fears November 29, 2010 CONSUMER confidence in the UK tumbled in November, according to European Commission (EC) data released yesterday. The indicator dropped to an 18-month low of -18.4. The news comes as a surprise after recent figures showed a boom in retail sales shooting upwards. The EC findings were “undoubtedly the consequence” of the coalition’s spending review, according [...]