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 [...]
Shareholder advice group Pirc and Aberdeen Asset Management call for Sports Direct chairman to be axed January 3, 2017 Shareholder advice group Pirc has called on investors to drop Sports Direct's chairman in a vote on Thursday. Aberdeen Asset Management has also backed calls for chairman Keith Hellawell to go. Read more: Sports Direct chairman: I have dealt with killers, I can survive board heat Hellawell faces expulsion after the majority of the retailer's independent [...]
Britvic continues its Brazilian shopping spree January 3, 2017 Britvic is pressing on with acquisitions in South America with the purchase of a juice business in Brazil. The UK drinks company, known for brands such as 7up , Pepsi Max and Lipton Ice Tea, announced today that it will be buying Brazilian company Bela Ischia for BRL218m (£54m). Read more: Britvic's share price falls after it makes [...]
Retailers will need to brave fierce headwinds in 2017 January 2, 2017 The high street's cold snap over Christmas and the New Year is not just seasonal. Several chills running through the sector could finally be felt with their full force in 2017. Rising inflation, falling wage growth, escalating costs and sterling's depreciation are all expected to weigh on retailers in the coming months. If inflation takes [...]
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, [...]
Sports Direct shareholders to vote on fate of chairman this week, following investors’ revolt at AGM January 2, 2017 Sports Direct shareholders will meet on Thursday to decide whether the retailer's chairman should keep his seat. Dr Keith Hellawell, a former chief constable in his 70s, failed to find favour with investors in the company's annual general meeting in September, with just 47 per cent of independent shareholders voting to keep him as chair. Although the [...]
The UK tourism industry is set to gain £24.1bn next year as more overseas visitors flock to Britain December 30, 2016 The weak pound has wreaked all kinds of havoc on British industries, but there's at least one that's celebrating as predictions are made for 2017. More inbound visitors than ever before, 38.1m, are set to crowd the UK's streets next year. That's up four per cent from this year, which is set to reach around 36.7m, according [...]