January boost in retail footfall reversed by February’s decline March 17, 2014 RETAIL footfall slumped again in February after a stronger start to 2014, according to the British Retail Consortium (BRC) and Springboard. Traffic fell by 2.9 per cent in the year to February, more than reversing the 1.6 per cent increase recorded in January. High street stores were the biggest losers last month, with a 5.3 [...]
Best of the Brokers for 12 March 2014 March 11, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com AVIVA RBC Capital has moved its target price on the insurer from 400p to 550p and upgraded the stock from “underperform” to “neutral” following last week’s results, saying that a return to top-line growth in its life business and management drive to improve [...]
Shop prices fall at fastest rate on record March 4, 2014 SHOP prices fell at the fastest pace on record in the year to February, with weak increases in food prices failing to stem the sharper decline in the cost of non-food items, according to an index of retailers released today. The British Retail Consortium (BRC) and Nielsen say shop prices have dropped 1.4 per cent [...]
Major retailers call for shake-up of bricks and mortar tax system February 17, 2014 BRITAIN’S retailers have today called for the link between business rates and rateable property value to be scrapped over fears that retailers with lots of property are being unfairly hammered. The British Retail Consortium (BRC) and accountants EY have put forward several alternatives to the current business rates system: replacing it with a tax based [...]
High street hit by bad weather as shoppers turn to the web March 10, 2014 RETAILERS recorded a small rise in total sales in the year to February, up 0.7 per cent from the same month in 2013, according to the British Retail Consortium (BRC) and KPMG. The data, released today, suggest that while total sales were up marginally, like-for-like transactions fell by one per cent in comparison to February [...]
MPs demand overhaul of business rates March 3, 2014 A GROUP of MPs has waded into the debate on business rates by demanding a complete reform of the current system, calling for a tax based on sales instead of the value of a property. Suggesting a series of reforms that could hit online retailers such as Amazon and Asos, the Business, Innovation and Skills (BIS) [...]
Retailers kick off new year with biggest sales boost since 2010 February 10, 2014 A BUMPER January saw British retailers record the fastest growth in sales for over three and a half years, with a 5.4 per cent boost when compared to January 2013. Online sales led the increase once again, expanding by a stunning 19.2 per cent over the 12 month period, the strongest result for internet retailers [...]
Administration rescued fewer stores in 2013 as retail struggles February 3, 2014 THE NUMBER of stores surviving when major retailers fall into administration dropped significantly this year, despite interest rates being held at historically low levels. According to restructuring and insolvency firm FRP Advisory, the proportion of shops staying open when big retail chains go into administration has dropped, from 50 per cent in 2012 to only [...]
London Report: Carney to face questions over Bank oversight March 10, 2014 MARK CARNEY faces probably his toughest questioning so far as Bank of England governor tomorrow when lawmakers will seize on a foreign exchange scandal to press their demands for tighter oversight of the central bank. Carney will face the Treasury Select Committee over claims the Bank’s governance system is outdated. Last week the Bank suspended [...]
Ministers get tough on shops that sell cheap alcohol with new ban February 4, 2014 THE GOVERNMENT has announced that retailers will no longer be allowed to sell alcohol below cost price, deemed to be anything lower than duty plus VAT. The ban will come into force on 6 April this year, and aims to tackle the trend of “deep discounting” which has led to some supermarkets selling cans of lager [...]