Over 5,000 retailers to fail September 1, 2009 OVER 5,000 retailers are set to go out of business next year in further evidence of the embattled state of the high street. The retail sector has already suffered from a steep decline in consumer confidence and rising unemployment is set to batter the industry further, according to figures out yesterday by accountants and business [...]
Profits slide at John Lewis as crunch hits September 17, 2009 THE John Lewis Partnership, seen as a bellwether for middle-class consumer confidence, yesterday reported a 20 per cent dive in first-half profits. Despite a strong performance from its grocery chain Waitrose, the group said pre-tax profits were down by £21m to £86.3m in the six months to 1 August. The group’s department store, famed for [...]
Profits slide at John Lewis as crunch hits September 17, 2009 THE John Lewis Partnership, seen as a bellwether for middle-class consumer confidence, yesterday reported a 20 per cent dive in first-half profits. Despite a strong performance from its grocery chain Waitrose, the group said pre-tax profits were down by £21m to £86.3m in the six months to 1 August. The group’s department store, famed for [...]
Liberty unveils demerger as profits tumble March 9, 2010 LIBERTY International will split its retail and commercial property businesses in a bid to “achieve greater value for shareholders.” The shopping centres arm of the business will become a real estate investment trust (REIT) called Capital Shopping Centres (CSC) with a market cap of around £2bn. And its London based portfolio will become Capital & [...]
Sports Direct celebrates a double victory February 11, 2010 SPORTS Direct has seen a surge in sales and been cleared by a competition commission investigation. Britain’s largest sports retailer raised its full-year profit guidance yesterday after the sales jump for the 13 weeks to 24 January. Retail sales rose 9.4 per cent to £326m – lifting gross profit to £136m. Sports Direct – which [...]
FTSE100 ends its best ever quarter with profit taking September 30, 2009 THE top share index closed lower yesterday with energy stocks, banks and miners among the biggest laggards on the last session of a record quarter. The FTSE 100 closed down 25.82 points, or 0.5 per cent, at 5,133.90 as investors locked in profits after the index put in its best quarterly performance since it was [...]
FTSE100 ends its best ever quarter with profit taking September 30, 2009 THE top share index closed lower yesterday with energy stocks, banks and miners among the biggest laggards on the last session of a record quarter. The FTSE 100 closed down 25.82 points, or 0.5 per cent, at 5,133.90 as investors locked in profits after the index put in its best quarterly performance since it was [...]
WH Smith sales dive January 26, 2010 WH Smith have reported a 4 per cent drop in like-for-like sales as customers bought fewer books. The figures for the 21 weeks to last weekend showed that the retailer’s High street stores saw a fall of 5 per cent while its travel-based outlets dipped by two per cent. WH Smith has been concentrating on [...]
Home baking boosts Real Good Food’s annual sales January 26, 2010 REAL Good Food yesterday announced a 15 per cent sales increase over the year, with strong results in the sectors of sugar retail, baking ingredients and its bakery division, Hayden’s. Hayden’s reported a rise in sales to all three of its major customers; Marks & Spencer, Waitrose and Costa Coffee. Meanwhile, food service sales, which [...]
Industry rises from the ashes to drive growth February 17, 2010 AMERICAN industry appears to be benfitting from a second wind. As the world’s largest economy emerges from recession, it’s industry that’s leading the way while the service sector is only just managing to hobble back to life. In recent years the US has re-directed its economy towards the service sector and, in particular, the consumer. [...]