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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H&M announces 10 per cent sales increase for July

August 15, 2016

H&M announced today that sales increased by 10 per cent in local currencies during July 2016 as compared to the same month last year. The company's shares were up 2.14 per cent in afternoon trading to SKr277.30. The fashion retailer, which targets young people globally, was struggling earlier this year due to the strength of the dollar. Its [...]
Sports Direct agrees to pay back workers £1m

August 15, 2016

Workers who were paid less than the national minimum wage at Sports Direct's Shirebrook warehouse will receive a pay back from the company worth an estimated £1m. The retailer was under investigation by HM Revenue and Customs (HMRC) for failing to pay warehouse workers the national minimum wage. Workers were not paid for waiting at security checks before being [...]
Letting agents expect the Night Tube will push up rents near stations on the 24-hour service

August 15, 2016

Letting agents are predicting there will be rent rises for homes near the tube stations that will be open for 24 hours on weekends as part of London's new Night Tube service. The service will start on the Central and Victoria lines on 19 August, making it easier for people living in places such as Epping and Walthamstow to [...]
Bovis Homes’ sales hit immediately after the EU referendum

August 15, 2016

Bovis Homes' sales were hit by the Brexit vote, but have stabilised since as the market absorbs the news that the UK will be leaving the EU. Chief executive David Ritchie said sales were impacted in the weeks immediately following the EU referendum, but have increased since then to become "more of a normal summer market". [...]
Checking out: non-exec director waves goodbye to Morrisons after Ocado deal

August 12, 2016

Irwin Lee, a non-executive director at Morrisons – and chair of the supermarket's remuneration committee – will be leaving the board at the end of August. Lee is stepping down to become the chief executive of Rustan Supercenters Inc, a supermarket chain in the Philippines, his native country. He joined Morrisons in July last year to help [...]
Summer splurge success: Here’s how far JC Penney’s sales increased in the second quarter

August 12, 2016

American department store JC Penney announced a sales increase in the second quarter and improved margins. Sales increased by 2.2 per cent; the best performing departments were home, footwear, handbags and the beauty store Sephora. The company was most successful in the Ohio Valley and the Pacific. Gross margin was up 37.1 per cent for the [...]
This is where all the bankers live (and it’s not West London)

August 12, 2016

West London has normally been thought of as the residential hot-spot for bankers – but although it still houses the most wealthy people in London, the City folk have moved out. City workers are now concentrated in the Isle of Dogs and fashionable Islington, according to data from salary benchmarking site Emolument. Read more: Mapped: First-time buyer [...]
Audley Retirement’s CEO moots an IPO in 2018

August 11, 2016

The boss of the retirement property company Audley Retirement has mooted a potential IPO for 2018. The flotation would value the company at hundreds of millions of pounds. He said the current market was also an opportunity for Audley to move into the London. Previously, London was so overheated that Audley couldn’t get a look-in – but as [...]
The number of mortgages in arrears and repossessions fell in the last quarter

August 11, 2016

The number of mortgages in arrears continued to fall in the second quarter, reaching its lowest level since records began. According to the Council of Mortgage Lenders (CML), at the end of June there were 92,500 mortgages in arrears of at least 2.5 per cent of the total mortgage outstanding – down from 95,900 at [...]
City law firm brought in to look into former BHS directors

August 11, 2016

City law firm Jones Day has been appointed to look into the conduct of the former directors of BHS. According to Sky News, the firm has been hired by FRP Advisory – the second administrator drafted in to handle BHS. Read more: Here's how much Sir Philip Green's BHS pension bill has risen due to Brexit [...]

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By: Helen Cahill

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