By: Helen Cahill

I report on retail and property for City A.M. I have covered the investigation into BHS and London's housing crisis. You can email me on helen.cahill@cityam.com with tips or commentary.

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Primark owner’s share price drops as like-for-like sales in doubt

January 12, 2017

Associated British Food's (ABF) share price fell three per cent in morning trading as the Primark owner gave the market few details on its like-for-like sales growth. The figures In its first quarter trading update, ABF said Primark's sales were up 11 per cent at constant currency and that "the UK performed well". However, the [...]
John Lewis will cut staff bonus as profit comes under pressure

January 12, 2017

The John Lewis Partnership has warned profit is "under pressure" due to falling shop prices, the growing dominance of online shopping, and cost pressures from the devaluation of sterling. The company, which shares its profits with staff through an annual bonus, said the difficulties the business is facing will mean the employee bonus will be "significantly lower" [...]
Barratt Developments reports sales struggles in London

January 12, 2017

Barratt Developments is feeling the heat in London as it reported today that completions in the capital were down more than 56 per cent. The housebuilder completed on 367 homes in London in the six months to the end of December, down from 842 in the same period the year before. Barratt said it was lowering prices and offering [...]
Shoe Zone’s sales slip

January 11, 2017

Budget shoe retailer Shoe Zone reported a drop in revenues this morning after a period of shutting down its loss-making stores. In its full-year results – covering the year to 1 October 2016 – Shoe Zone said its revenues fell 4.2 per cent to £159.8m from £166.8m the year before. Profits were relatively flat, increasing [...]
The Garden Bridge’s trustees warn the project could cost more than the £185m planned

January 11, 2017

The Garden Bridge's future has come into doubt after its trustees said today that it could cost more than the £185m planned and that it was "difficult" to conclude that it was a going concern. The project has been hampered by delays, pushing up the costs associated with the project. Accounts filed on Companies House [...]
A Merry Lidl Christmas: Lidl doubles Prosecco sales in record Christmas trading

January 11, 2017

Lidl has bagged its best ever Christmas sales figures as it doubled its Prosecco sales in December. The discount grocer celebrated a 10 per cent sales increase year-on-year in December, but shoppers weren't just reaching for the booze – sales of carrots parsnips, Brussel sprouts and potatoes jumped 60 per cent. Turkey sales increased by 40 per [...]
Ted Baker boosts sales against a “tough trading backdrop”

January 11, 2017

Ted Baker's share price climbed 2.79 per cent this morning after the luxury brand reported an 18 per cent jump in sales over the festive trading period. Like many retailers, a large chunk of Ted Baker's sales were made online this year. Online sales jumped 35 per cent year-on-year in the eight weeks between 13 [...]
House of Fraser cashes in on Christmas sales

January 11, 2017

House of Fraser capitalised on the Black Friday and Boxing Day week sales in November and December, boosting its like-for-like sales by 2.7 per cent in the festive period. The department store said that during its six-day Black Friday sales event, total sales increased 2.7 per cent on the same period the year before. Unsurprisingly, a hefty [...]
Rents are hitting an “affordability ceiling”

January 11, 2017

Rental price growth more than halved last year as the nation hit "an affordability ceiling". UK rents increased by an average 1.7 per cent year-on-year in December, according to data from Homelet, down from rent inflation of 3.8 per cent last year. New tenants paid an average rent of £892 per month. Read more: Rents [...]
Food suppliers squeezed as supermarkets play hardball in Brexit price talks

January 10, 2017

Food suppliers are being squeezed as supermarkets play hardball in talks over which side should shoulder the burden for the devaluation of the pound, new figures suggest. Research from insolvency firm Begbies Traynor shows 6,000 food suppliers were showing signs of financial distress in the final quarter of 2016, an increase of 13 per cent [...]

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By: Helen Cahill

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