Fitbit’s seriously feeling the crunch as it cuts jobs and lowers guidance January 30, 2017 Fitbit shares have dived as much as 13 per cent after revealing it will cut six per cent of its global workforce and double down on other cost saving measures while revenues will fall short of guidance to the tune of around $150m. The wearables maker expects revenues of "$572m to $580m, compared to the company’s previously [...]
Dixons Carphone reports fifth consecutive Christmas of growth January 24, 2017 Dixons Carphone today reported its "fifth consecutive year of Christmas growth" and said it's on track to meet expectations with its full year profits. The figures Like-for-like revenue in the UK & Ireland was up six per cent in the 10 weeks to 7 January, while southern Europe saw a five per cent increase. The Nordics recorded [...]
Analysts react to Dixons Carphone’s Christmas trading update January 24, 2017 Electronics retailer Dixons Carphone has reported its fifth year of Christmas sales growth, but market reaction was muted, with the company's share price falling more than three per cent in morning trading. Alistair Davies, analyst at Investec, said it was likely that Dixons Carphone had increased market share and improved its margins. There were availability issues around [...]
Jet2 launches New York trips from Birmingham and Belfast among its winter schedule January 24, 2017 Jet2 is taking another bite of the Big Apple, after it announced plans to launch New York flights from Birmingham and Belfast International. The low-cost airline will now offer 30 direct trips to New York, up from 24, from seven airports. It is lining the trips up to coincide with Black Friday, the sales bonanza day, as [...]
Why the UK is falling out of love with fashion: M&S, Debenhams and Ted Baker offer solutions to the high street clothing crisis January 24, 2017 In 2016, Britons were focused less on fashion, and more on enjoying themselves. We ate out and drank more, but spent less on clothes. In other words, we “shifted towards the experience economy”, according to Richard Lim, chief executive of Retail Economics. “Since Brexit, the components within the economy holding up well have been consumer expenditure [...]
Game Digital shares drop after sales fall and cash burn January 18, 2017 Shares in Game Digital flopped over three per cent this morning after the firm revealed "tough" trading in the UK had hit sales. The figures Like many other retailers, Game focuses on its gross transactional value (GTV): effectively the value of sales before any discounts are applied. Reporting its half-year numbers to the end of December, Game [...]
H&M’s share price falls after sales figures disappoint January 16, 2017 Swedish international clothing retailer H&M's share price fell 2.76 per cent in trading today after it reported disappointing Christmas sales figures. The group's total sales in December rose six per cent year-on-year in local currencies, but analysts had forecast a sales increase of eight per cent. Read more: Bow down, John Lewis – H&M drops a Christmas [...]
Marks & Spencer posts Christmas sales hike as clothing division shows increase for first time in two years January 12, 2017 Marks & Spencer has revealed a long-awaited improvement in its clothing arm during the 13 weeks to 31 December, although a change in its reporting period played a significant part in the alteration. The figures The retailer reported a 5.9 per cent increase in sales over the Christmas period. The clothing and home arm showed a [...]
Debenhams share price jumps at the open as it reveals increase sales over Christmas January 12, 2017 Shares in Debenhams rose over three per cent at the open, as the department store revealed an improvement in sales over the Christmas period. The figures Like-for-like sales were up five per cent in the seven weeks to 7 January, beating expectations. Debenhams attributed the improvement to beauty and gift sales, which took the non-clothing [...]
AO World share price falls as investors focus on economic storm clouds on horizon despite increase in revenue January 12, 2017 AO World has reported increased sales in the UK as its European revenue grew strongly, but shares fell sharply as it warned of bumpy economic conditions to come. The figures UK ao.com revenues grew by 10.3 per cent year on year. Overall UK revenue increased by a slightly smaller 8.9 per cent, reflecting legacy logistics and [...]