Hornby extends losses despite its boss saying “good progress” is being made on turnaround plan November 24, 2016 Shares in model enthusiasts' favourite Hornby nose-dived over five per cent this morning after announcing static sales and falling profit margins. The figures Six month revenues fell from £22.3m to £21.9m, which led to an underlying loss of £3.6m, slightly more than the £3.4m loss in the same period last year. However, losses could have been worse [...]
Mothercare’s boss isn’t prepared to throw the baby out with the bathwater despite stalling sales November 24, 2016 Shares in high-street darling Mothercare fell over one per cent after its chief exec said both sales and profit margins had "stalled" over the last six months. The figures Half-year UK like-for-like sales fell by 0.7 per cent from £237m to £231m. International like-for-like sales fell by 2.9 per cent but increased in actual currency terms, [...]
Pets at Home has had a furrtastic half-year November 24, 2016 Pets at Home has reported a furr-tastic set of interim results this morning, with like-for-like sales growing 2.5 per cent. The pet business did say recent trading had been weaker than in the first half, but that the profit outlook for 2017 was in line with market expectations. The figures Merchandise sales were up 4.7 per cent in [...]
Here’s how the Autumn Statement will affect your local pub November 23, 2016 Without mentioning the pub industry directly, the Autumn Statement laid out a handful of policies that will affect the sector. Here are the industry's top concerns. Increasing the National Living Wage will hurt pubs Wages for over-25s will rise 30p to £7.50 per hour in April 2017, and the rates of National Minimum Wages will increase as [...]
Back in fashion? Austin Reed is braving a return to the high street months after collapse November 23, 2016 We only just heard the news that the UK high street was losing another retail name in office chain Staples, but Austin Reed wants to buck the trend with a return to bricks-and-mortar. The menswear retailer is coming back to the high street as part of a £100m three-year revival plan, according to the owner [...]
Retailers’ share prices stung by the rise in the national living wage in the Autumn Statement November 23, 2016 Retailer's share prices are suffering this afternoon after chancellor Philip Hammond said the national living wage would rise in April next year. The national living wage hourly rate will increase from £7.20 an hour £7.50 an hour in 2017, Hammond said. Read more: The National Living Wage is going up again next April The change [...]
MPs are going to debate shutting shops on Boxing Day after petition November 23, 2016 MPs are going to debate shutting shops on Boxing Day after a petition calling for stores to close on the 26 December gathered more than 130,000 signatures. The debate is scheduled for 12 December. The petition, created by Jack Johnson, has gathered 137,871 signatures. Johnson said in the introduction to his petition: "Retailers ram boxing [...]
Tech enthusiasts plot Black Friday spending spree, planning £425 of purchases November 23, 2016 Tech enthusiasts are planning to go wild this Black Friday, according to a new study. Some 60 per cent of those surveyed by media company Future said they were planning to make a purchase this year, compared with 34 per cent who did so last year. Read more: Morrisons are getting hunks to help lift [...]
Chapel Down toasts to future success with its best harvest and highest quality fruit yet November 23, 2016 English winemaker Chapel Down toasted prolonged profits today as it announced its most successful harvest yet. The Kent-based winery said although yields were down from expectations, it was still the company's third largest harvest, producing the highest ever quality grapes. Frazer Thompson, chief executive, said he is excited about the potential for higher-quality wines created by the harvest, which he [...]
Ex-Sainsbury’s boss Justin King thinks the price of your weekly grocery shop is about to rise five per cent November 23, 2016 Sainsbury's boss Justin King is one of those retail legends who, like former Tesco chief exec Sir Terry Leahy, had the foresight to get out just as things were about to get hairy. Now King has used that foresight to suggest the price of your weekly shop could be about to leap. In an appearance [...]