Fat Face struggles over festive period as shopping model continues shifting to online January 9, 2019 Casual clothing retailer Fat Face’s Christmas sales fell flat, amid “tough” trading conditions after a solid performance in the six months to December. The company reported a six per cent drop in physical sales in December, driven by a shift to online sales both in the UK and internationally. Ecommerce sales were up 16 per [...]
Japan lifts 23-year ban on British beef after fears of mad cow disease finally put to rest January 9, 2019 Japan has lifted a ban on importing British beef – 23 years on from its introduction after an outbreak of the devastating bovine illness dubbed mad cow disease. The Asian nation banned all imports of UK beef in 1996 after an outbreak of the disease, medically called bovine spongiform encephalopathy (BSE). Thought to cause the fatal [...]
Shoe Zone shares soar as retailer posts record profits January 9, 2019 Shares in discount footwear Shoe Zone soared more than 10 per cent this morning on the news that the group had secured its highest profit since it floated in 2014. The figures Profit before tax increased 18.4 per cent to £11.3m for the year to the end of September, up from £9.5m in 2017, and [...]
Mothercare sticks to guidance despite falling UK sales January 9, 2019 Mothercare sales plunged in the three months to mid-January, it told investors today, though the business remains on track to deliver on its full-year guidance. Like-for-like UK sales dropped by 11.4 per cent over the parent and baby chain’s third quarter as it blamed “challenging trading conditions” as well as its programme of store closures. [...]
Sales slip at Topps Tiles but boss hails robust result in tough retail climate January 9, 2019 Sales at Topps Tiles slipped 1.4 per cent in the 13 weeks to 29 December compared to the same period last year, the tile retailer said today. Despite the sales decrease its chief executive Matthew Williams hailed Topps' robust performance. “Against a challenging market backdrop and a strong period of performance in the prior year [...]
Cherry on the cake: Greggs shares rise as baker lifts profit outlook for third time in a year January 9, 2019 Greggs is on a roll, seeing off problems in the food sector which have hit competitors to up its profit guidance for the third time in less than a year today. The chain said it now expects 2018 profits before tax of £88m, up from predictions of £86m in November. The Newcastle-founded baker is celebrating its [...]
Regal results for Majestic Wine despite UK retail headwinds January 9, 2019 Majestic Wine uncorked 6.8 per cent revenue growth over the Christmas period but warned that retail trading conditions remain tough. The wine retailer, which said nearly a third of its sales come around Christmas, also boosted gross profit growth to 8.2 per cent. It said it remains on track to deliver full-year profit figures that are “broadly [...]
Ted Baker posts Christmas sales rise despite chairman harassment investigation January 9, 2019 Ted Baker today reported double-digit sales growth over the festive period as it proved resilient to retail fears and an investigation into its founder. The fashion brand said retail sales increased by 12.2 per cent in the five weeks to 5 January compared to the same period last year. The growth was spurred on by [...]
Sainsbury’s suffers Christmas sales slowdown as Black Friday hurts the supermarket January 9, 2019 Like-for-like sales at Sainsbury’s fell by 1.1 per cent over the Christmas period, the supermarket said today. Total sales excluding fuel dropped by 0.4 per cent in the 15 weeks to 5 January, while general merchandise sales fell by 2.3 per cent and clothing by 0.2 per cent. Read more: Aldi sales hit £1bn in record Christmas [...]
Sears set to liquidate assets as it rejects chairman’s $4.6bn takeover bid January 8, 2019 US department store Sears could face liquidation today after failing to reach an agreement over a proposed takeover bid by chairman Edward Lampert. Sears, which also owns low-cost retailer Kmart, will ask a bankruptcy judge today if it can proceed with liquidation, Reuters reported, citing sources close to the matter. The struggling chain, which filed [...]