House of Fraser suffers 60 per cent sales drop in run-up to Christmas January 21, 2019 House of Fraser has reportedly suffered a dive in sales over the crucial Christmas trading season, in a fresh sign of the woes facing the beleaguered department store chain. Year-on-year sales plunged 60 per cent in the 12 weeks to 18 December, according to Kantar Worldpanel figures reported in The Sunday Telegraph. It is the [...]
Debenhams shares slide as Moody’s hands struggling retailer a negative outlook January 17, 2019 Debenhams’ share price slumped seven per cent in morning trading, after ratings agency Moody’s lowered its outlook for the beleaguered retailer from stable to negative. Concerns over the risks that creditors might incur when lending to the embattled department store chain were flagged by Moody’s, pushing shares in Debenhams down 7.26 per cent to 2.8p [...]
Profiting from the retail revolution: What’s hot and what’s not? January 15, 2019 It turns out that so-called Super Thursday wasn’t so super after all. Despite being lauded as a day when retailers boast strong figures from the festive period, last Thursday proved to be a mixed basket of results. With consumers feeling the pinch and Brexit-sized uncertainty looming large over the high street, it’s not surprising that [...]
Shares in Debenhams dive as woes show no sign of abating January 14, 2019 The falling share price of embattled department store chain Debenhams showed no sign of a let up this afternoon as its stock value plunged a further 12 per cent. The retailer’s share price plummeted amid reports that as many as 90 of its high street stores could be up for closure, putting 10,000 jobs at [...]
Debenhams may shut 90 stores and slash 10,000 jobs in rescue plan January 14, 2019 Debenhams could cut 10,000 jobs as part of a desperate attempt to keep the company afloat amid plunging profits and a dramatic boardroom coup. The struggling department store has earmarked as many as 90 high street stores for closure, the Daily Telegraph reported yesterday. Debenhams had already announced plans to close 50 of its 165 [...]
JD Sports eyes strong profits thanks to international expansion January 14, 2019 JD Sports today said it expects full-year profits to hit the higher end of its targets as international growth helped defy tough retail conditions. The sports retailer reported total sales growth of 15 per cent in the 48 weeks to 5 January, with like-for-like sales up five per cent in the same period. Read more: Retail [...]
Fears over business rates mount as Britain’s major retailers prepare to form action group January 13, 2019 Some of Britain’s biggest retailers are coming together in an urgent bid to seek business rates relief from the government, City A.M. has learned. Around 50 major high street names are joining a mass lobbying effort to curb forthcoming rises in their property tax, as profits plunge in the face of falling sales and online [...]
City focuses on Boohoo as online giant hopes to defy retail gloom January 13, 2019 Online fashion giant Boohoo looks set to defy the gloom hanging over Britain’s retail industry later this week when it is expected to post another quarter of sharp sales growth. The City will be turning its attention towards the e-commer giant to see whether its festive fortunes were enough to buck a current trend of dismal [...]
Debenhams’ share price plunges 18 per cent following shock boardroom coup January 11, 2019 Shares in struggling department store chain Debenhams crashed 18 per cent to 3.9p today following yesterday’s shock Mike Ashley-inspired annual general meeting coup. Sports Direct boss and major Debenhams shareholder Ashley blocked the re-appointment of the company’s chairman and chief executive to the board at yesterday’s AGM. Sir Ian Cheshire, chair of the retailer’s board since [...]
Retail round up: What’s happening on the high street? January 11, 2019 | City Talk Not as bad as it could have been. That’s the general feeling about high street performance over Christmas after major retailers and the supermarkets published their festive figures this week. The British Retail Consortium says that 2018 was the worst Christmas for retails for 10 years but, as ever, the figures show there are winners [...]