Next’s shares tumble after company issues profit warning January 4, 2017 Next's shares have taken a hammering today after the retailer issued a profit warning. The retailer cut its profit forecast for 2017-18 to a range of £680m-£780m. Analysts had estimated the forecast would be £784m. Following the announcement, Next's share price tumbled by 12 per cent. Next's shares have now fallen nearly 50 per cent since [...]
John Lewis cashed in ahead of the subdued Christmas period January 4, 2017 John Lewis cashed in in the lead-up to Christmas, before families deserted festive shopping on the high street for feasting at the dinner table. For the week starting 19 December, the department store made sales totaling £175.6m. Christmas Day and Boxing Day – when most John Lewis shops are shut – took place during the comparative week in [...]
Londoners could save thousands of pounds by swapping their flat in the city for a year-long cruise January 4, 2017 The average rent in London has reached a record high and house prices are continually edging up. Is it time to swap your London flat for something new? How about a room on a cruise ship? Spending a year at sea could save Londoners thousands of pounds according to research from Planet Cruise. Read more: London risks taking [...]
B&M side-steps clouds gathering over retail stocks January 4, 2017 B&M has side-stepped the overall gloom surrounding retail stocks this morning, rising over seven per cent in morning trading after a strong trading update. Other retail stocks – including Marks and Spencer's, Debenhams' and Associated British Foods' – have taken a hit today after Next tumbled 11 per cent at the open. Read more: Next [...]
Innis & Gunn has launched a “detox” beer with zero alcohol just in time for Dry January January 4, 2017 It's now the fourth day of Dry January, and even if you've read every list with tips on how to get through it, by now the craving to crack open a beer might be setting in. Scottish craft brewers Innis & Gunn have your answer: A new alcohol-free pale ale called Innis & None. Two million Brits are set to try [...]
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 [...]
This is what consumers are most worried about this year January 4, 2017 It's only day four of 2017 and we're already tearing our hair out about what the new year will bring. Top of the list of consumers' concerns is that poorly-defined political concept: Brexit. Read more: More money in your pocket? Not for much longer, say economists Few of us even know what Brexit means – Prime Minister Theresa May [...]
Shop prices continued to fall over Christmas – but inflationary pressures are pushing up clothing prices January 4, 2017 The British Retail Consortium (BRC) has called the start of a likely rise in inflation as it reported overall shop prices fell by 1.4 per cent in December, a deceleration from the 1.7 per cent fall in the previous two months. The sharp fall in the value of the pound since the Brexit vote has not [...]
They’ve only Donald done it: Ford bins $1.6bn Mexican factory in favour of smaller US investment January 3, 2017 Ford has binned plans to build a $1.6bn (£1.3bn) car plant in Mexico, choosing a $700m investment in Michigan instead. Chief exec Mark Fields defended the u-turn, saying far from pandering to President-elect Donald Trump's protectionist desires the decision was a "vote of confidence" in the pro-business environment the entrepreneur is creating. "We didn't cut a deal with [...]
Ginsters owner to team-up with celebrity-backed Cornish pasty firm January 3, 2017 Baker Greggs' UK pasty dominance is to come under increasing pressure as two of its rivals are set to announce a tie-up as part of a multi-million pound deal. Samworth Brothers, which owns a variety of brands including Ginsters, will announce this week plans to buy West Cornwall Pasty Co – a celebrity-backed firm that was saved [...]