West End sees robust October high street sales November 14, 2010 SALES at London’s West End shops remained robust during October despite the details of the government’s Comprehensive Spending Review acting to unnerve consumers. According to lobby group the New West End Company, which is backed by major retailers and property owners in Bond Street, Oxford Street and Regent Street, West End sales rose 7.7 per [...]
Halfords bids to drive up sales in tough climate November 14, 2010 TWO of the UK high street’s most traditional names, Halfords and Mothercare, report results this week with the City using them as a barometer for the consumer climate. The companies have been trying to navigate choppy economic waters as government budget cuts and a looming VAT hike take their toll on cash-strapped shoppers. Halfords has [...]
HMV shares plunge as its losses mount December 9, 2010 HMV shares dropped nearly 17 per cent yesterday as poor trading figures laid bare the company’s failing turnaround plan. The music, DVD, games and books retailer posted a worse-than-expected widening in first-half losses. Its share price dropped 16.57 per cent yesterday, to 36.50p HMV made an underlying pre-tax loss of £41.3m for the six months [...]
Retail sales failed to pick up in October November 8, 2010 RETAIL sales failed to revive in October as weak consumer confidence in the lead up to the comprehensive spending review undermined growth the British Retail Consortium (BRC) will say today. The latest figures show total retail sales grew by 2.4 per cent year-on-year in October but this compared to growth of 5.9 per cent for [...]
Shop price inflation hits a five-month high after food and cotton prices surge October 6, 2010 A jump in the cost of agricultural commodities drove British shop price inflation to a five-month high in September, but weak consumer demand should contain price pressures in the rest of 2010, a survey showed yesterday. The British Retail Consortium (BRC) said shop prices in September were 1.9 per cent higher than a year ago, [...]
Big businesses hit by a carbon stealth tax October 20, 2010 GREEN energy campaigners were horrified yesterday as the government quietly introduced a shock £1bn stealth tax on firms’ carbon emissions. Amid a spending review which was generally positive for the cleantech industry, the coalition said it would scrap plans to “recycle” contributions to the Carbon Reduction Commitment (CRC) energy efficiency scheme back to the organisations [...]
Green stealth tax bombshell stuns business October 21, 2010 BUSINESS leaders were left stunned by what they called a green “stealth tax” following news by the government on Wednesday that it would keep the revenue raised from the Carbon Reduction Commitment (CRC) rather than recycle cash raised back into scheme. Richard Lambert, director-general of the Confederation of British Industry (CBI), attacked the proposals saying: [...]
PM GIVES GREEN LIGHT TO MORE QE October 11, 2010 DAVID Cameron yesterday insisted the government would not delay spending cuts if the recovery starts to slow, but gave his strongest hint yet that he would support another round of quantitative easing. Describing himself as a “fiscal conservative but a monetary activist”, the Prime Minister used his first official press conference to play down suggestions [...]
Time to take inflation seriously again November 2, 2010 WHO said inflation is no longer a danger? Wherever one looks, prices are rising, demolishing the flimsy case made by the deflationistas. The British Retail Consortium/Nielsen shop price index out this morning confirms that the cost of living is continuing to go up, hitting ordinary folk and fuelling general negativity about the state of the [...]
Retail chiefs in call for rates shake-up September 20, 2010 RETAIL chiefs have demanded that the government changes the way it calculates business rates to help struggling shops to stay afloat. The current rate is partly based on September’s Retail Price Index (RPI) which is expected to be around four per cent. But the British Retail Consortium (BRC) has called on the coalition to find [...]