ASOS BOUNCES BACK AS IT POSTS STRONG DECEMBER TAKINGS January 19, 2012 ASOS, the online fashion retailer, kicked the retail gloom to report a 46 per cent rise in sales in the third quarter boosted by rapid growth overseas and a solid performance in its domestic market. UK sales growth bounced back to 10 per cent in the second quarter from one per cent in the previous [...]
Online sales last year hit £50bn mark January 19, 2012 ONLINE retail sales in the UK surged by 14 per cent last year to more than £50bn, as consumer appetite for shopping online continues impact the high street, new research shows. The report, commissioned by price comparison site Kelkoo, reveals that online shoppers spent an average of just under £1,500 each on 39 items last [...]
Mulberry ups forecasts as festive rise in turnover boosts share price January 19, 2012 LUXURY fashion brand Mulberry raised its annual profit forecast yesterday, after it enjoyed a 41 per cent rise in festive sales during the six weeks to 14 January. Like for like sales were up 35 per cent over the same period and wholesale orders for its spring/summer line were up 35 per cent on last [...]
CITY VIEWS: HOW MUCH OF YOUR CHRISTMAS SHOPPING DID YOU DO ONLINE? January 19, 2012 GAURANG MELATA | AVIVA “I always buy online. It’s flexible, you cut out the middleman and you don’t have to try on things in store and then queue to pay for them.” NOEL PATTERSON | PATTERSON & JAMES CONSULTING “I shopped mainly on Amazon this year. There are no drawbacks to shopping online. You have [...]
Car industry boosts UK as exports jump January 19, 2012 CAR MANUFACTURING expanded quickly in the UK last year, with exports accounting for a record share of output, figures from the Society of Motor Manufacturers and Traders (SMMT) revealed yesterday. This increase shows the sector “continues to lead the manufacturing recovery,” said the SMMT’s Paul Everitt. However, output of commercial vehicles declined and engine production [...]
Motor sector is no longer such a joke January 19, 2012 IN the Christmas Top Gear special, Jeremy Clarkson and co travel across India in a trio of clapped out British motors: an unreliable Jaguar, an ageing Rolls-Royce and an original Mini. The running joke is that Britain has little to offer the Indians – or anyone for that matter – in the way of cars [...]
Kesa bears burgeoning Comet losses January 19, 2012 WORSE-than-expected sales at Comet this Christmas will cost its owner Kesa £15m in writedowns as the electronics group nears completion of a deal to sell the troubled UK chain. Europe’s second largest electricals retailer will complete the sale of Comet next month to private equity buyers OpCapita for a nominal £2 together with a cash [...]
SABMiller beer volumes rise January 19, 2012 SABMiller has reported a three per cent rise in beer volumes in the last three months of 2011, as growth in African and Latin American markets helped offset falls in North America and Europe. The world’s second-largest brewer and maker of Miller Lite, Peroni and Grolsch said beer price rises helped the group to push [...]
Peacocks axes 249 jobs as Pumpkin Patch folds January 19, 2012 THE crisis-hit fashion retailer Peacocks is set to cut 249 staff at its headquarters in Cardiff, administrator KPMG announced yesterday. The administration of Peacocks, which owns 611 UK stores and employs over 9,000 staff, is one of the biggest retail failures since Woolworths collapsed in 2008. Chris Laverty, from KPMG, said the stores will continue [...]
Deal for Endemol as lenders approve €2.8bn debt-for-equity restructuring January 19, 2012 THE TV production company behind Big Brother and Deal or No Deal yesterday announced “an important milestone” as its lenders agreed to overlook millions of euros of debt in exchange for equity. Endemol received more than the required two thirds support from its creditors – including Barclays, RBS, Apollo and Centrebridge – who will hold [...]
