Laing O’Rourke agrees long-awaited refinancing terms with lenders January 8, 2019 Contractor Laing O’Rourke has finally agreed refinancing terms with its lenders after delays forced the company to postpone the publishing of its accounts for the last financial year by three months. The company said the terms, which were agreed over the Christmas period, delivered new banking facilities until 2022. The arrangements are currently in the [...]
John Lewis enjoys sales boost after strong Christmas performance January 8, 2019 John Lewis has doubled down on a positive festive period after reporting double-figure sales growth over the last week. The department store chain said total sales for the week to 5 January were up 11.2 per cent on the same period last year, thanks to its post-Christmas clearance. The figures were driven by soaring menswear [...]
FTSE 100 hits monthly high after retail boost and fresh hopes of US-China trade deal January 8, 2019 The FTSE 100 has risen to monthly highs as investors return to retailers and US-China trade deal talks resume. The blue chip index has climbed one per cent today after US stocks bounced last night on fresh hopes of a resolution to the trade dispute between the world’s two largest economies. US Commerce Secretary Wilbur [...]
Joules records strong Christmas trading thanks to online sales surge January 8, 2019 Fashion retailer Joules today reported a double-figure sales rise over the Christmas period as online success crushed retail fears. Joules said like-for-like sales rose 11.7 per cent in the seven weeks to 6 January compared to the same period the year before. The company said the strong festive performance was driven by online trading, which [...]
Discounters win war of the supermarkets amid sluggish Christmas growth January 8, 2019 Aldi led the way during a record-breaking Christmas for groceries, even as sales growth slowed across the sector. The supermarket increased sales by 10.4 per cent, narrowly beating fellow discounter Lidl to the top spot, figures from Kantar Worldpanel show. “The discounters have continued to make their mark over Christmas: two-thirds of all households shopped [...]
Greene King toasts record Christmas trading amid cost-cutting plans January 8, 2019 Pub chain Greene King today recorded strong sales growth over Christmas and the New Year as it cashed in on festive drinking. Greene King said like-for-sale sales over the last two weeks rose 10.9 per cent, while Christmas day sales hit a record £7.7m. The chain, which operates almost 3,000 pubs, restaurants and hotels across [...]
Footasylum shares slide as it warns discounting will squeeze profit margin January 8, 2019 Shares in Footasylum slumped 15 per cent this morning after the shoe shop warned that its full-year profit margin will be squeezed due to increased discounting across the retail sector. The share price slipped to 27.6p from yesterday's closing price of 32.5p on the news that the retailer will also implement a cost-cutting measures across the business that could result in [...]
Morrisons increases sales for a fourth consecutive Christmas but shares fall as it loses market share January 8, 2019 Morrisons posted its fourth consecutive Christmas of growth today, crediting competitive pricing of key festive foods and customer service for its strong performance. Excluding fuel, total sales at the supermarket rose by four per cent in the nine weeks to 6 January, while like-for-like sales grew by 3.6 per cent, with retail contributing 0.6 per [...]
Amazon becomes most valuable company after overtaking Microsoft January 7, 2019 Amazon reclaimed its crown as Wall Street’s stock market darling this evening, passing Microsoft to take the lead in a three-horse race which has seen fellow tech giant Apple fall behind in recent weeks. Microsoft’s six-week run as the largest global company by market value was ended when the bell closed on Wall Street today [...]
Theresa May hopeful of more EU reassurances over backstop as MPs vote looms January 7, 2019 Theresa May is hoping to get further reassurances from the EU over her Brexit deal as time ticks down to a crunch vote in Parliament. The Prime Minister confirmed on Monday she is continuing to work with Brussels to secure a guarantee the so-called ‘backstop’ – which effectively keeps the UK in the EU’s customs [...]