Shock fall in September retail sales October 21, 2010 THE high street suffered a shock fall in retail sales last month, raising fears that consumer spending is slowing even before the austerity measures really begin to bite. Headline retail sales fell by 0.2 per cent for a second consecutive month in September after a downwardly-revised drop of 0.7 per cent in August. Economists had [...]
Royal Mail set to trial an evening delivery service October 31, 2010 EVENING deliveries are being trialled by Royal Mail, as the post operator looks to offer consumers more choice over the way they receive goods purchased online. London homes within the M25 motorway will be eligible for the new service, which enables shoppers at selected retailers to ask for items to be delivered between 6pm and [...]
Own brands fuel House of Fraser surge September 22, 2010 DEPARTMENT store group House of Fraser yesterday reported a 22 per cent rise in half-year earnings thanks to its own-brand ranges. The company said earnings reached £13m after a 5.5 per cent rise in sales to £480.6m. House of Fraser, the third-biggest department store chain in the UK, said its online sales were also forging [...]
Christmas retail sales could be best since 2007 October 17, 2010 SHOPPERS will spend more on the high street in the run up to Christmas than they have for at least three years, a report has claimed. Retail analysts Verdict Research said high street sales were likely to increase by £1.6bn in the three months to Christmas, a 1.9 per cent rise on last year, to [...]
Receding fears over Eurozone debt levels hand FTSE a boost December 6, 2010 BRITAIN’S top share index closed higher yesterday, buoyed by oil stocks after crude reached a two-year peak, while banks fell on fears over Eurozone debt as EU ministers met to discuss ways of preventing debt contagion. The FTSE 100 ended up 24.96 points, or 0.4 per cent, higher at 5,770.28, for its highest close since [...]
US data shows housing uptick October 4, 2010 Pending sales of previously owned US homes rose to a four-month high in August, implying the housing market was regaining some stability after recent steep declines following the end of a home-buyer tax credit. Another report yesterday showed new orders received by domestic factories fell 0.5 per cent in August as demand for transportation equipment [...]
Rigby & Peller slides into the red as Brits cut back on luxury items October 26, 2010 CORSET-MAKER to the Queen, Rigby & Peller has become the latest lingerie chain to be hit by cash-strapped Brits reining in their spending. The luxury retailer, whose fans include Gwyneth Paltrow, Lady Gaga and Nick Clegg’s wife Miriam González Durántez, dived into the red by £214,000 in the 12 months to the end of January, [...]
Burberry is set for strong sales growth October 10, 2010 LUXURY goods business Burberry is expected to report double-digit sales growth in its first-half trading update on Wednesday. The performance follows a strong first-quarter trading update and comes after a flurry of takeover speculation has boosted Burberry’s share price 17 per cent in the past month. The consensus forecast for the six months to September [...]
Focus owners seek financial help or a sale October 31, 2010 THE owners of the UK’s fourth-largest DIY chain Focus are looking to investment bankers to advise on the future of the heavily debt laden business, which could lead to a sale. US based private equity firm Cerberus is taking advice from Lazard on the future of Focus, and is in talks with its banks about [...]
FTSE opens higher ahead of key data October 25, 2010 The FTSE 100 rose on opening this morning with heavyweight miners likely to be buoyed by a softer dollar after the Group of 20 major economies agreed to avoid competitive currency devaluations. The blue chip index looks set to gain 43 to 48 points, or as much as 0.8 percent, according to financial bookmakers, after [...]