Selfridges posts record operating profit as investment programme pays off October 1, 2018 A major revamp has helped Selfridges increase sales by 11.5 per cent year-on-year, as operating profits rose to a record £181m for its latest financial year. The department store is now in the final 12 months of its four-year £300m investment programme, transforming its London store and increasing its digital capabilities. Read more: Analysts warn of Debenhams [...]
Amazon eyes British retail space for grocery stores October 7, 2018 Online retail giant Amazon is eyeing up the acquisition of several sites in Britain to develop its checkout-free grocery business. The Sunday Times yesterday quoted sources as saying Amazon wanted stores of between 4,000 sq ft and 5,000 sq ft to house Amazon Go, an arm of the business that uses technology to track the [...]
Retail sector suffers worst Christmas in a decade as sales stagnate January 10, 2019 The UK retail sector has suffered its worst Christmas in a decade as sales stagnated during the crucial festive period, despite a string of positive updates offering a glimmer of hope. Overall retail sales were flat in December, the lowest level of growth since April and the worst festive performance since 2008, according to figures [...]
French Connection founder Stephen Marks could sell 42 per cent stake, company confirms October 8, 2018 The founder of French Connection is looking to sell, 46 years after creating the fashion brand, the company has confirmed. Stephen Marks is looking to offload his 42 per cent shareholding and has started approaching potential buyers. The company said it is “currently reviewing all strategic options in order to deliver maximum value for its [...]
Debenhams share price plunges as investors fear disappointing Christmas trading January 2, 2019 Shares in Debenhams plunged almost nine per cent this morning amid fears of poor trading over the festive period. The department store chain saw its share price tumble to 4.68p on the first day of trading in 2019, ahead of an update due on 10 January. The sliding shares suggest investors have low expectations for [...]
Sports Direct arm buys hockey and cricket retailer with the home of cricket and England Hockey left nursing losses | City A.M. July 15, 2018 Mike Ashley’s Sports Direct has pushed into the world of hockey and cricketing goods after buying a specialist retailer from administrators. Lovell Sports, an arm of Sports Direct, bought Northgame Limited, which trades under the name of Barrington Sports, filings on Companies House show. Barrington Sports is a retail partner for Lord’s Cricket Ground, England [...]
Mark Kleinman: Interserve is left to clean up its own mess March 15, 2019 What’s this? A public voting process punctuated by angry disputes about the terms and timing of a deal; feverish talk of ousting the top team orchestrating the agreement; and potentially dire consequences if the vote is blocked. It sounds a lot like events in Westminster, but today might instead mark the denouement of another of [...]
Black Friday promotions drive unexpected retail boost in November December 20, 2018 Retail sales enjoyed stronger-than-expected growth in November as shoppers cashed in on Black Friday promotions. Sales over the month increased by 1.4 per cent compared to the same period last year, far higher than the 0.3 per cent forecast in a Reuters poll of economists. But over the three months to November sales rose by [...]
Why 2019 will not mark the death of the high street January 2, 2019 When HMV went into administration in 2013, disgruntled employees used the retailer’s Twitter account to give live updates of the “mass execution” at the beleaguered music firm. However, ahead of last week’s announcement that the the 97-year-old business was collapsing for a second time, passwords for all its social media accounts were changed to avoid [...]
Asos shares nosedive after it warns on bleak pre-Christmas trading December 17, 2018 Shares in Asos fell more than 35 per cent this morning after it warned of a “significant deterioration” in its pre-Christmas trading. The online retailer reported sales growth of 14 per cent in the three months to the end of November. But the company said it had seen the “weakest growth in online clothing sales [...]