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 [...]
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 [...]