H&M’s share price falls after sales figures disappoint January 16, 2017 Swedish international clothing retailer H&M's share price fell 2.76 per cent in trading today after it reported disappointing Christmas sales figures. The group's total sales in December rose six per cent year-on-year in local currencies, but analysts had forecast a sales increase of eight per cent. Read more: Bow down, John Lewis – H&M drops a Christmas [...]
Shareholder group hits outs at Sports Direct’s “disappointing” failure to conduct an independent governance review January 16, 2017 Sports Direct is under fire for its failure to find an independent organisation to conduct a review of its corporate governance. The retailer has been pressed by shareholders to shake-up its corporate governance after a string of profit warnings and a parliamentary inquiry that concluded its Shirebrook warehouse was run like a "Victorian workhouse". Read [...]
These are the key trends in retail in 2017 – and who will benefit from them January 16, 2017 The Christmas reporting season isn't over yet – the market is awaiting updates from Dixons Carphone and WH Smith – but the figures that have been reported so far have indicated some of the key retail trends investors should watch out for this year. Read more: Brexit vote boosts Hugo Boss The outlook for the UK consumer [...]
Reiss boosts sales on the back of international expansion January 16, 2017 Reiss, the high-end fashion retailer favoured by the Duchess of Cambridge, reported a robust sales increase over Christmas. In the six weeks to 7 January, sales growth in the UK was 11.6 per cent, which the company said was "driven by like-for-like growth and e-commerce". Read more: Reiss rocks the high street after doubling full-year [...]
Palamon buys a majority stake in colourful Swedish retailer Happy Socks January 16, 2017 Palamon Capital Partners today announced its acquisition of a majority stake in Happy Socks, a leading whimsical sock designer. The European growth investor's transaction valued the Swedish sock company at SEK 725m (£67.1m), with SEK 40m of growth capital to be injected to support the continued expansion of the business, leading to a SEK 765m enterprise value. [...]
Brexit vote boosts Hugo Boss January 16, 2017 Hugo Boss has staged a partial recovery thanks to a sales boost in Britain and China. The German fashion house said its operating profit for 2016 will fall less than expected due to a 20 per cent increase in like-for-like sales in China in the fourth quarter, and a two per cent increase in Europe, which was [...]
A London restaurant has offered to lock up your mobile phone while you eat January 16, 2017 Today, our dinner tables ring out with the buzzes and pings of mobile phones calling out for attention. What happened to good, old-fashioned conversation over a cuppa? Well, a London restaurant and tea house is hoping to find out with a new (though optional) policy to lock up customers' phones while they eat. The Tea Terrace [...]
Burberry confirmed its new chief executive Marco Gobbetti is set to head the company from July January 16, 2017 Burberry today confirmed Marco Gobbetti is set to become the boss of the company this summer as part of the company's ongoing restructuring drive. Gobbetti is slated to join the luxury brand as executive chairman of Asia Pacific and Middle East on 27 January until 4 July. From 5 July, he will join the board and take on his role [...]
Goals Soccer Centres increased sales last year as more people turned out to play five-a-side football January 16, 2017 Sales at Goals Soccer Centres went up last year, with the company attributing its success to an improved customer experience due to more investment in upgrading its five-a-side pitches. The figures Group sales for the year increased by 1.3 per cent to £33.4m from £33m, with like-for-like sales growing by 0.6 per cent, which the firm [...]
UK high street celebrates first December rise in footfall for five years January 16, 2017 The UK high street has benefited from the first December rise in footfall for five years. Footfall increased 0.8 per cent year-on-year in December, according to figures from Springboard and the British Retail Consortium, as consumers sought some festive cheer on the high street. Read more: Debenhams share price jumps as it reveals sales hike [...]