Debenhams share price slips ahead of market update this week January 7, 2019 Shares in troubled department store Debenhams slipped three per cent today ahead of a trading update on Thursday when it will reveal how it fared over Christmas. The retailer, which has its annual general meeting on Thursday, has seen its share price tank this year, falling from 30p 12 months ago to just 5.5p today. There was [...]
Selfridges defies high street turmoil with sparkling Christmas sales January 7, 2019 While other retailers look set to report miserable Christmas trading periods, Selfridges has posted record-breaking results over the festive period. The luxury department store best known for its flagship Oxford Street store bucked the trend of decline on Britain’s high streets with an eight per cent sales boost across its physical and online business in [...]
Oil prices head up as US and China start trade talks January 7, 2019 Oil prices have ticked up again today as markets react to Opec’s oil cuts and hopes of a thaw in US-China trade relations. International standard Brent crude had jumped over two per cent in the morning, but fell back to a 1.5 per cent rise at $57.94 in the early afternoon. Meanwhile, US standard WTI [...]
Revealed: The high street retailers that collapsed in 2018 January 7, 2019 To many analysts, 2018 was seen as the year the death knell was sounded for the high street, with the number of retailers falling into administration rising for the second year in a row, according to Deloitte. A total of 125 retailers collapsed last year and there was a 53 per cent increase in Company [...]
Lorries embark on no-deal Brexit test run to Dover January 7, 2019 Nearly 90 lorries took part in a no-deal Brexit test run this morning to help the government prepare for potential Dover traffic jams after the UK leaves the EU in March. The first wave of 89 lorries set off on the 20-mile journey between the disused Manston Airport and the Port of Dover at 8am, [...]
Hobbycraft benefits from Christmas boost as celebrities go big on homemade gifts January 7, 2019 The popularity of personalised gifts and decorations helped Hobbycraft deliver a strong Christmas boost with robust growth in both online and offline sales. The store pointed to celebrities leading the push for personal gifts as like-for-like in-store revenue grew 7.1 per cent, with a 28 per cent bump online. Read more: Debenhams share price plummets [...]
Japanese billionaire businessman takes crown for most retweeted tweet January 7, 2019 A Japanese fashion billionaire has taken the crown for the most retweeted tweet of all time after receiving 4.5m retweets for a message he posted on the micro-blogging site on 5 January. Yusaku Maezawa, who founded Japanese online clothing retailer Zozo, also received 1.1m likes for his tweet and 293,000 comments. ZOZOTOWN新春セールが史上最速で取扱高100億円を先ほど突破！！日頃の感謝を込め、僕個人から100名様に100万円【総額1億円のお年玉】を現金でプレゼントします。応募方法は、僕をフォローいただいた上、このツイートをRTするだけ。受付は1/7まで。当選者には僕から直接DMします！ #月に行くならお年玉 pic.twitter.com/cKQfPPbOI3 — [...]
Dunelm shares climb on stronger sales outlook despite website closures January 7, 2019 Furniture firm Dunelm saw revenue grow by two per cent over the Christmas quarter after closing two struggling websites. The retailer earned £303.6m for the three months to the end of December, £6m more than the year before, while like-for-like sales rose nine per cent to £282.5m. Like-for-like store sales grew almost six per cent [...]
Aldi sales hit £1bn in December as the supermarket records best ever Christmas trading January 7, 2019 Discount supermarket chain Aldi has recorded its best ever UK Christmas trading period after hitting sales of almost £1bn in December. The week commencing 17 December was the busiest day in the history of the retailer in the UK, with sales 10 per cent higher than the previous year. Sales were boosted by demand for [...]
Taylor Wimpey results in the City spotlight as market jitters linger January 6, 2019 Housebuilding giant Taylor Wimpey is set to reveal its future outlook later this week against a backdrop of lower activity and growing uncertainty across many parts of the UK’s property market. Traders will be turning their attention towards the blue-chip constituent, which is releasing its full-year trading statement on Wednesday, as City caution looms large [...]