Suits you: Moss Bros shares rise after better-than-expected Christmas trading update January 11, 2019 Shares in Moss Bros rose this morning after the suit retailer announced a better-than-expected set of results for the Christmas period. Shares were up 2.6 per cent at 26.9p after the retailer said sales for the 23 week period from 29 July to 5 January were 0.6 per cent ahead of last year and one [...]
Every Lidl helps: German discount chain boosts sales in bumper Christmas trading January 11, 2019 German discount supermarket Lidl boosted sales eight per cent over the Christmas period, it revealed today. In the six weeks to 30 December sales were up eight per cent on the same period last year with Saturday 22 December the busiest day. Lidl’s results were aided by a 33 per cent jump in sales for [...]
Quiz share price plummets as retailer issues second profit warning on poor Christmas sales January 11, 2019 Fashion retailer Quiz saw shares plunge this morning as it issued its second profit warning in just three months today, after Christmas sales fell below expectations. Profits are now expected to hit £8.4m for 2018, down from October’s estimate of £11.5m, with shares nosediving by 24 per cent in early morning trading to leave Quiz’s [...]
White goods retailer AO World sees rise in sales thanks to Black Friday boost January 11, 2019 Online retailer AO World defied Christmas woes to post a rise in revenue in the third quarter, boosted by strong Black Friday trading. The white goods specialist said UK sales grew 4.4 per cent in the three months to the end of December, while overall group revenue was up 8.2 per cent. But the firm [...]
Christmas shoppers shunned the high street, but attacking Amazon won’t help January 11, 2019 Between the fierce renewal of the Brexit saga, parliamentary shenanigans, and a particularly chilling cold front (interpret that literally or metaphorically, as you will), the merriness of Christmas feels like a thing of the past. But for the high street, it feels like Christmas never came at all. Reports of retail sales, released yesterday by [...]
Super Thursday: Embattled retailers could learn from the Tesco turnaround plan January 10, 2019 It wasn’t only children who traditionally looked forward to Christmas: time was when Yuletide sales could be guaranteed to give a substantial boost to Britain’s retailers. No longer. A slew of dismal results published today showed Christmas figures sharply down for a number of household names including M&S and Debenhams, in what the British Retail [...]
Mike Ashley loses patience with Debenhams, pushing chair and chief executive from board January 10, 2019 Mike Ashley, the chief executive of Sports Direct, has dramatically shaken up the top leadership of Debenhams, blocking the reappointment of the company’s chair and chief executive to its board during its annual general meeting this afternoon. Sir Ian Cheshire, chair of the retailer’s board since 2016, informed the company he would step down with immediate [...]
Nike’s Dutch tax status to be investigated by European Commission January 10, 2019 The European Commission has opened a detailed probe into whether Nike has received an unfair advantage over its competitors by being granted a favourable tax environment in the Netherlands. The Commission said the Netherlands issued five tax rulings since 2006, two of which are still active, which endorsed a method of calculating royalty payments that "may not reflect [...]
Retail’s Super Thursday: The good, the bad and the ugly January 10, 2019 Today's so-called Super Thursday delivered a very mixed shopping basket of retail results, from some fresh bargains ready to be snapped up to others in danger of being labelled as out of date. Tesco, John Lewis, DFS, Debenhams and more released their results on a day dubbed Super Thursday, but which coincided with a dire [...]
Tesco works on stockpiling arrangements in Brexit contingency plans January 10, 2019 Tesco is making arrangements to stockpile goods as part of the supermarket’s Brexit contingency planning, the UK's biggest supermarket confirmed today. The UK’s biggest retailer is working with suppliers to devise plans to hold stock closer to the market, and said that sensible contingency plans are in place. Read more: Tesco sees like-for-like sales boost in [...]