TJ Maxx owner scores highest store sales increase in two years August 21, 2018 Cut-price clothing retailer TJ Maxx’s owner today hailed double-digit growth in net sales and stronger growth in same-store sales than it’s experienced in two years. The figures TJX reported a 12 per cent year-on-year rise in net sales to $9.3bn (£7.2bn) for its second quarter results, eclipsing last year’s three per cent growth in revenue. [...]
Yo! Sushi eyes opportunities for supermarket growth after acquisitions August 21, 2018 Yo! Sushi increased sales last year ahead of two major acquisitions which could see the company expand into the grocery sector this year. The Japanese restaurant chain reported a 1.7 per cent uptick in total sales to £89.9m for the year to 27 November. This included a four per cent rise on a like-for-like basis, driven by the strength [...]
Help-to-Buy fuels rise in Persimmon’s profits August 21, 2018 Persimmon reported a 13 per cent rise in pre-tax profits for the first half of 2018 yesterday, as boosts from low interest rates and the government’s Help-to-Buy scheme eased fears that the housebuilder would be hit by a slowdown in the property market. Profits before tax rose to £516.3m in the six months leading up [...]
House transactions slide lower amid ‘stagnant’ property market August 21, 2018 The number of houses being bought and sold edged further down last month, as fears of a stagnant property market continue to loom large. Residential transactions were 3.2 per cent lower in July 2018 compared with the same month last year, according to the latest data from HMRC’s property transaction statistics. Read more: There is [...]
Game Digital’s revenue slides but esports expansion holds promise August 21, 2018 Video game retailer Game Digital has posted a fall in revenue in its end of year results as it is hit by a tough market for pre-owned games. Revenue for the year to 28 July fell slightly from £782.9m to £780m which the company blamed on "continued challenges in the pre-owned business" which it said [...]
Flying taxis could be heading for London as German aviation firm opens discussions with the City August 21, 2018 Flying taxis transporting people around London could soon become a reality after a German aviation company said it was looking at how its autonomous vehicles could work in the City. Volocopter unveiled its air taxi infrastructure for cities – including landing stations on top of buildings, hotels, at transport hubs and shopping centres – earlier [...]
British manufacturing strength bolstered by weak sterling and global economy August 21, 2018 Manufacturing activity slowed slightly over the summer but output remained well above normal levels as the strong global economy supported activity, according to a closely followed survey. The measure of manufacturers’ order books from the Confederation of British Industry (CBI) fell by four points, with a balance of seven per cent of the 379 firms [...]
Hunt: EU must ‘get house in order’ to counter Russian threat to way of life August 21, 2018 Foreign secretary Jeremy Hunt is today set to call on the EU to “go further” when it comes to imposing sanctions against Russia, claiming that President Putin’s regime has “made the world a more dangerous place”. The secretary of state will note that allies must “get our own house in order” to meet new challenges posed [...]
The UK’s 2017-18 budget deficit hits an 11-year low August 21, 2018 The UK recorded its largest July surplus for 18 years last month, standing at £2bn, as ONS figures revealed robust deficit reduction in Britain’s finances. July’s surplus was double that from a year ago, with economic growth and high employment credited with fuelling the increase, handing Chancellor Philip Hammond cash he can put towards his [...]
Charter Court signals ‘confident’ outlook as profits jump and it announces maiden dividend August 21, 2018 Buy-to-let lender Charter Court reported a big jump in profits today and its first dividend less than a year after its initial public offering. Profit before tax rose by 57 per cent year-on-year to £93.1m for the first half of 2018, almost reaching the £111m profit made for the entirety of 2017. Charter Court listed [...]