Winners and losers from retail’s “Super Thursday” January 12, 2017 So many retailers decided to update the market on trading today that Shore Capital analysts published a note to complain about it. But as the morning has progressed, clear winners and losers have emerged from the data deluge. Here are our picks: Winners JD Sports put its gymwear rival Sports Direct to shame today as it scored [...]
Rising sterling pushes down FTSE on big day of results for retailers January 12, 2017 A strengthening pound pushed the FTSE 100 slightly down from its record opening level amid a slew of results from major retailers. The pound rose as high as $1.2317 against the US dollar as greenback continued its retreat from 14-year highs. Sterling was broadly flat against the euro in morning trading. The FTSE was broadly [...]
Outraged City analysts bash retailers for choosing to report on the same day January 12, 2017 Overloaded City analysts bashed UK retailers this morning for all choosing to publish financial updates on the same day. Today has been branded "Super Thursday" because so many retailers are publishing their Christmas figures. Financial reports have come from Marks and Spencer, Tesco, AO World, Debenhams, Asos and Primark-owner Associated British Foods, to name just a few. [...]
Primark owner’s share price drops as like-for-like sales in doubt January 12, 2017 Associated British Food's (ABF) share price fell three per cent in morning trading as the Primark owner gave the market few details on its like-for-like sales growth. The figures In its first quarter trading update, ABF said Primark's sales were up 11 per cent at constant currency and that "the UK performed well". However, the [...]
All eyes on M&S clothing – and its chief executive Steve Rowe – as the retailer unveils its latest results collection later this week January 8, 2017 Marks & Spencer's beleaguered clothing division could finally be on the up, with sales growth expected by some analysts when the high street behemoth reveals its third quarter results this week. On 12 January, M&S will reveal its third quarter to 31 December. Analysts are on average forecasting like-for-like sales growth in its clothing and home [...]
Retailers’ share prices dragged down as Next sinks January 4, 2017 The retail sector is getting a hammering today after Next posted a sales slide for the Christmas season. Next's share price has tumbled 11 per cent in morning trading, and following it downwards are Marks and Spencer, which has fallen five per cent, and Primark-owner Associated British Foods, which is down 3.84 per cent. Read more: Retailers [...]
Retail cold snap: New Year footfall plummets at Britain’s shopping centres January 2, 2017 The UK high street experienced a sales cold snap at the weekend as new figures showed footfall fell nearly 13 per cent nationwide while in shopping centres it slumped by a massive 50 per cent. Poor weather, an early December spending spree and bank holiday trading hours deterred shoppers from venturing outdoors on New Year’s Day, [...]
Calm before the storm: The pound is back below $1.24 on Hillary Clinton hopes, as the FTSE 100 remains flat November 8, 2016 After an encouraging beginning to the week, the pound fell below the $1.24 mark this morning as the dollar strengthened on hopes of a Hillary Clinton win in today's US Presidential election. Having peaked at $1.2439 in early trading, the pound edged into the red in the early afternoon, dropping as low as $1.2388, 0.1 [...]
Associated British Foods shoots to the top of FTSE 100 as revenues lift at the Primark and British Sugar owner November 8, 2016 Associated British Food's (ABF) share price rose more than seven per cent this morning, taking it straight to the top of the FTSE 100, as the Primark owner posted a rise in revenues and hailed 2016 as a "turning point" for its sugar business. The retailer added that it hopes to benefit from Brexit and is in discussions [...]
The fashion industry is on its steepest decline for seven years October 17, 2016 The fashion market is on its steepest decline for seven years, according to new data, with £700m wiped off the value of the UK market since last year. According to figures from Kantar Worldpanel, sales declined for the fourth month in a row in September as retailers continued to offer huge discounts to consumers. Kantar [...]