Morrisons increases sales for a fourth consecutive Christmas but shares fall as it loses market share January 8, 2019 Morrisons posted its fourth consecutive Christmas of growth today, crediting competitive pricing of key festive foods and customer service for its strong performance. Excluding fuel, total sales at the supermarket rose by four per cent in the nine weeks to 6 January, while like-for-like sales grew by 3.6 per cent, with retail contributing 0.6 per [...]
Debenhams share price slips ahead of market update this week January 7, 2019 Shares in troubled department store Debenhams slipped three per cent today ahead of a trading update on Thursday when it will reveal how it fared over Christmas. The retailer, which has its annual general meeting on Thursday, has seen its share price tank this year, falling from 30p 12 months ago to just 5.5p today. There was [...]
Sport and betting: Why Brexit could pave the way for a wider levy, the role of live data rights, and how the $5bn US market can change the game January 7, 2019 The UK betting industry’s voluntary “whistle-to-whistle” advertising ban during live sports coverage has been widely welcomed but broadcasters – and, by extension, the media rights fees they pay to sport – will take a hit and some sports, such as horse racing, are deemed to be so reliant on gambling that they are exempt from [...]
Selfridges defies high street turmoil with sparkling Christmas sales January 7, 2019 While other retailers look set to report miserable Christmas trading periods, Selfridges has posted record-breaking results over the festive period. The luxury department store best known for its flagship Oxford Street store bucked the trend of decline on Britain’s high streets with an eight per cent sales boost across its physical and online business in [...]
Lego bricks and mortar: Merlin Entertainment signs £200m deal to open Legoland Korea by 2022 January 7, 2019 Merlin Entertainment has announced it has entered into a partnership agreement to build a Legoland Park in South Korea. The country’s first Legoland Park will be situated on the island of Hajungdo in Chuncheon, a city within a two-hour drive of nearly 24m people, and expects to create 1,600 jobs. The agreement with Gangwon Provincial [...]
Supermarkets drop fuel prices for seventh time since October January 7, 2019 Supermarket chains Asda, Sainsbury's and Morrisons will cut prices at fuel pumps from tomorrow as a lower oil price continues to be passed on to consumers. For the seventh time since late October Asda has said it will lower the price at its 320 petrol stations. Customers will pay 1p per litre less for unleaded petrol, or no [...]
Retail sales provide much-needed eurozone boost but investor confidence falls for fifth consecutive month January 7, 2019 The eurozone has been given a much-needed boost with better than expected retail sales at the end of last year. Retail sales grew 0.6 per cent in November, the same rate as October, and better than forecasts of 0.2 per cent. Eurozone investor confidence fell for the fifth consecutive, with the Sentix index dropping to [...]
Revealed: The high street retailers that collapsed in 2018 January 7, 2019 To many analysts, 2018 was seen as the year the death knell was sounded for the high street, with the number of retailers falling into administration rising for the second year in a row, according to Deloitte. A total of 125 retailers collapsed last year and there was a 53 per cent increase in Company [...]
Hobbycraft benefits from Christmas boost as celebrities go big on homemade gifts January 7, 2019 The popularity of personalised gifts and decorations helped Hobbycraft deliver a strong Christmas boost with robust growth in both online and offline sales. The store pointed to celebrities leading the push for personal gifts as like-for-like in-store revenue grew 7.1 per cent, with a 28 per cent bump online. Read more: Debenhams share price plummets [...]
Dunelm shares climb on stronger sales outlook despite website closures January 7, 2019 Furniture firm Dunelm saw revenue grow by two per cent over the Christmas quarter after closing two struggling websites. The retailer earned £303.6m for the three months to the end of December, £6m more than the year before, while like-for-like sales rose nine per cent to £282.5m. Like-for-like store sales grew almost six per cent [...]