Heavy Black Friday discounting drove the basket value of online electrical purchases to its lowest value ever December 20, 2016 Black Friday discounting slashed the average value of online purchases in the electrical sector by 22.7 per cent year on year, a new report suggests. Discounts on electronics were key for attracting bargain-hunting Black Friday shoppers, but new figures show the price cuts brought the average basket value down to £119 in November, its lowest value [...]
John Lewis hits out at Labour MP over Christmas jingle December 20, 2016 The John Lewis Partnership has hit out at a campaigning Labour MP after she produced a Christmas jingle criticising the retailer for how it treats its staff. Labour MPs, led by Siobhain McDonagh, recently recorded a song – titled "National Living Rage" – to highlight how retailers are cutting staff benefits in response to the national living wage. Read more: [...]
Transport for London is opening the railway arches at Wood Lane December 20, 2016 Transport for London (TfL) is opening up the railway arches at Wood Lane. The 31 railway arches in west London, currently unused, will be transformed into commercial and retail space. There will also be new pedestrian passageways under the arches and new bicycle parking places. Read more: Weak pound draws tourists to London's Westfield centres TfL [...]
Britons have lost their taste for these favourites of Christmas past December 20, 2016 Christmas 2016 may have been marked by the rise of craft beer and gin advent calendars (yes, really), and a season when we cracked open £2bn worth of bubbly, but spare a thought for the traditional tipples we're leaving behind. Despite being a Christmas staple, Britons have lost their taste for the fortified wines of port, sherry and vermouth, as [...]
CMA approves McColl’s acquisition of 298 Co-op stores December 20, 2016 Don't you love it when the Competition and Markets Authority (CMA) clears something just in time for Christmas? The CMA has given the green-light to McColl's acquisition of 298 Co-op stores. McColl's intention to take on the stores was first announced back in July, and now that the CMA has approved the deal, McColl's expects [...]
Britons set to get stingier this Christmas as the average spend per person on presents falls by £50 December 19, 2016 If you already thought 2016 had been a less-than-ideal year, we have some more bad news for you – and this time it's about your Christmas presents. As the curse of 2016 carries on working its magic, the average spend on gifts per person for friends and family has declined by 11 per cent this [...]
Danone warns on sales growth target December 19, 2016 Yoghurt maker Danone has reduced its forecast for like-for-like sales growth due to the poor performance of its probiotic yoghurt Activia. Danone said in a statement the company has been facing an "increasingly volatile and complex environment" and that "Activia's performance as well as aggravated market conditions in Spain have impacted Europe Dairy results". Read more: [...]
Russell & Bromley quaking in its boots as profits take a beating December 18, 2016 Shoe shop Russell & Bromley has taken an axe to its dividend after profits fell by more than 12 per cent last year. Accounts recently filed at Companies House show the Kent-based footwear purveyor plans to give its dividend a £3m haircut to £11m after profits and revenue took a hit. Last year Russell & [...]
Harvey Nichols profits down but weaker sterling stimulates sales December 18, 2016 A £29 million revamp of the luxury retailer’s flagship store in Knightsbridge has eaten into the store’s profits, taking them down to £2.6m in April from £5.4m the year before. Harvey Nichols has radically re-imagined its most famous London outlet, in a project that has resulted in the entire menswear section being closed for 10 [...]
Average Christmas booze spend is 51 per cent tax December 18, 2016 UK households are paying 51 per cent tax on the alcohol they buy in the lead up to Christmas, according to industry body, the Wine and Spirit Trade Association. The association says the average household will buy 5 bottles of wine, 3 bottle of spirits, 2 bottles of sparking wine, 2 bottles of port, 12 [...]