Selfridges’ tills ring with record full-year profits November 1, 2015 Selfridges has post record profits of £155m for last year as the upmarket department store chain pushed ahead with its online expansion overseas and expanded its UK stores. The retailer, which has just unveiled its famous Christmas window displays on Oxford Street – this year inspired by the 12 signs of the zodiac – said [...]
Overseas real estate investment into UK regions to hit £14bn this year October 29, 2015 Foreign buyers are splashing out on real estate outside of London, with investment levels expected to hit a record £14bn by the end of the year. Record high prices in the capital have forced investors to look further afield at other cities including Manchester and Birmingham for comparatively higher yields and better returns. Around £10.5bn [...]
Company prospects pick up as insolvencies fall in third quarter October 29, 2015 Prospects for business are looking brighter after industry statistics revealed a drop in the number of companies collapsing into administration in the third quarter of the year. An estimated 363 companies entered administration in the last three months, a decrease of 2.4 per cent compared with the previous quarter and 5.5 per cent lower than [...]
Wet summer weather cools sales at Magners and Bulmers owner C&C October 28, 2015 Wet and windy weather in Ireland and Scotland made ice-filled pints of cider a more chilly affair for pub-goers this summer, C&C group said, as the Magners owner reported a drop in sales and profits. The Irish company, which also owns Bulmers and Tennent’s beer, reported a 9.5 per cent fall in operating profit to €62.6m (£45.4m) [...]
Alteri takes step forward with Jones Bootmaker acquisition October 28, 2015 A Mayfair-based investment firm set up last year to invest in challenged retailers has bought UK footwear chains Jones Bootmaker and Brantano. Alteri Partners, which is backed by US-based private equity giant Apollo Global Management, said it has agreed to buy the two companies for an undisclosed sum from Dutch retail conglomerate Macintosh. The deal [...]
Booming London office demand drives vacancy rates to 15-year low October 28, 2015 London office vacancy rates dropped to a 15-year low during the third quarter of the year, new research shows, as increasing competition made space in the capital increasingly difficult to come by. As the economic recovery gathers pace, demand for office space has surged, thanks to businesses feeling more confident about their future prospects. Fears rents will [...]
Land Registry: London house prices hit half million-pound mark October 28, 2015 UK house prices rose by 5.3 per cent in the year to September, with the price of an average London property reaching half a million pounds for the first time, Land Registry figures show. London posted the biggest annual rise of 9.6 per cent in September and also outpaced the rest of the UK on a [...]
Carpetright turnaround pays off as first half sales rise October 27, 2015 Carpetright has posted a healthy rise in half-year sales as efforts to spruce up its stores win over more customers through its website paid off. The floorings and beds specialist, said like-for-like sales increased by four per cent in the 25 weeks to 24 October, with total sales up 2.5 per cent. Five stores were opened and [...]
Shoe Zone shares jump despite store closures putting dent in sales October 27, 2015 Shoe Zone shares have risen 5.6 per cent today after the discount footwear chain said it was on track to meet full-year profits, despite a drop in sales. The family-owned chain, which floated on Aim last year, struggled in the autumn of last year after the unusually warm weather hurt demand for winter footwear and [...]
Out of town shopping centres jump in value on the back of growing popularity October 27, 2015 Britain's out-of-town shopping centres have jumped in value over the last three months thanks growing appetite from investors and retailers opening new shops. Research from estate agency CBRE shows that capital values increased by six per cent in the third quarter, marking the second steepest rise since 2000. That contrasted with a 3.8 per cent [...]
