Pandemic cycling boom drives growth at Halfords January 14, 2021 Halfords saw sales growth of nearly 12 per cent in the third quarter, boosted by a pandemic-driven rise in cycling. Growth in Halford’s cycling department jumped more than 35 per cent in the third quarter, boosted by a surge in sales for cycling products, e-bikes and e-scooters. The firm’s performance cycling business Tredz grew more [...]
Food packaging giant Hilton thrives as pandemic changes eating habits January 14, 2021 Hilton Food Group has surpassed expectations with a continuation of strong sales and volume growth, according to a trading update released today. The group’s success was driven by their own expansion as well as the shift to home consumption throughout the Covid-19 pandemic. Hilton made strong progress across several European markets, benefitting from people eating [...]
Before the Bell: Europe called higher as Biden is due to announce $2trn stimulus January 14, 2021 Volatility in the markets was low across the board yesterday. There was no change to the macroeconomic outlook. “Hence why trading ranges were relatively small. Equity markets in Europe and the US had muted sessions,” David Madden, market analyst at CMC Markets UK, tells City A.M. this morning. “The health crisis is still bubbling away [...]
FTSE 100 and Wall Street flat in subdued day for markets January 13, 2021 The FTSE 100 was flat by the mid afternoon as markets slipped into a lull after a rapid start to the year. After rising 6.4 per cent last week, London’s leading index has faltered this week with two consecutive sessions of losses. By 3pm the bourse was down 0.05 per cent at 6,751 points. The [...]
Debate: Should Primark open an online store? January 13, 2021 Overnight opening hours, queue-management systems and lashings of promotions – Primark did everything it could to keep its customers happy amid a year of on/off lockdown restrictions. But with parent company Associated British Food’s trading update out this week, is it time for the High Street phenomenon to go digital, too? Kam Phullar, Lead Strategist [...]
City Moves: Who is switching jobs in the Square Mile this week? January 13, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. After a rocky year for business, City firms are continuing to adapt to the challenges of three national lockdowns and post-Brexit bureaucracy to keep things moving across the Square Mile. This week, Lloyd’s [...]
Honda pauses production at Swindon for third time January 13, 2021 Honda will next week pause car production at its factory in Swindon, the third time it has done so in a little over a month. The Japanese car giant said in a statement that output would be paused from Monday to Thursday next week, the longest such pause so far. It said that global supply [...]
Pressure mounts on big four supermarkets as Lidl enjoys record Christmas sales January 13, 2021 Lidl has strengthened the pressure on its competitors by remaining the fastest growing retailer against the UK’s big four supermarkets of Tesco, Sainsbury’s, Asda and Morrisons. The German chain achieved a record Christmas in 2020 with overall sales increasing 17.9 per cent in the same four-week December period versus the previous year. With Christmas favourites [...]
Marshalls to restore dividend after second half sales jump January 13, 2021 Landscaping firm Marshalls this morning confirmed that it would reinstate its dividend after much improved trading in the second half. After sales fell sharply in the first half, the company said that figures from recent months were ahead of 2019. But group revenue fell from £542m to £469m for the full year on the back [...]
Christmas sales hike drives strong revenue growth at Asos January 13, 2021 Sales at fashion retailer Asos surged in the four months ending in December as the online shopping boom continued amid the coronavirus pandemic. The firm said that the hike in sales had led to a better-than-expected growth in revenue over the period leading up to Christmas. As a result of the strong start to the [...]