Kantar figures: Lidl maintains position as UK’s fastest growing grocer as Sainsbury’s outpaces Big Four November 14, 2017 Lidl has kept its crown as the UK’s fastest growing grocer for a fifth quarter in a row, as Sainsbury’s becomes the best performing of the Big Four. Figures published by Kantar Worldpanel this morning show that sales were up 15.1 per cent at Lidl in the 12 weeks to 5 November, with 10.6m households [...]
Don’t pack up your portfolios yet, Christmas has come early November 14, 2017 With 41 days to go, it seems Christmas has come early this year for many investors. The returns in 2017, at least for equity investors, are staggering. The DAX, a blue chip index consisting of the 30 major German companies, is higher by some 16 per cent since the start of the year. The S&P [...]
Businesses issue Theresa May with Brexit ultimatum, warning they’re “extremely concerned” about progress so far November 13, 2017 Business groups have told Theresa May progress must be made in Brexit talks ahead of the critical European Council meeting next month, saying they are “extremely concerned” about what’s been achieved so far. The Prime Minister met with groups including the Confederation of British Industry (CBI) and the Institute of Directors (IoD), as well as [...]
Fears of a nightmare before Christmas for UK retailers as footfall and spending dip November 13, 2017 Retail analysts fear a nightmare before Christmas for British shops as figures published today show weakness ahead of the crucial holiday spending spree. Footfall in UK retailers fell by two per cent year-on-year in October, according to figures from the British Retail Consortium (BRC) and Springboard. The decline in the number of shop visits was [...]
Former Tesco commercial director Kevin Grace sues for unfair dismissal after 2014 accounting scandal November 12, 2017 Tesco is facing further fallout from its 2014 accounting scandal as a former director claims he was wrongly dismissed. Kevin Grace, the former commercial director, was removed from his job after it emerged that Tesco had overstated profit expectations. Grace maintains he was not responsible for the problem and last year the Serious Fraud Office [...]
Alibaba: Sales during online retail bonanza Singles’ Day hit new record as they smash $25bn mark November 11, 2017 Chinese e-commerce giant Alibaba has said its Singles’ Day sales hit $25.4bn (£19.2bn), smashing its own record from last year. The shopping bonanza’s sales surged past last year’s total just after midday local time, hitting a record $18bn (£13.6bn). Singles’ Day, held every year on 11 November, is the world’s biggest online shopping event that [...]
Builders and headhunters under financial pressure as insolvencies edge up – but there could be hope for retailers November 10, 2017 The number of firms collapsing into administration rose in the third quarter, according to notices filed with the Britain’s official public record. Analysis of the London Gazette revealed some 302 companies appointed administrators during the third quarter, up from 297 in the second quarter and 295 in the same period 12 months ago. The steady [...]
Marks and Spencer turnaround: Retail veteran Steve Rowe must make M&S tills jingle all the way during Christmas period November 9, 2017 Marks and Spencer started this week on a cheery note with the launch of its Christmas advert – but the festive feel didn’t last long for the high-street stalwart. The new advert sent Twitter into a tizzy on Tuesday with some viewers convinced that one of the characters was mouthing a swear word in a [...]
Marks and Spencer (LON:MKS) share price: Steve Rowe promises to “make M&S special again” as sales and profits slide while CFO Helen Weir steps down November 8, 2017 Marks and Spencer Group’s profits fell in the first half, as the retailer faced additional headwinds in its food business and continued the struggle to boost clothing sales. The group also confirmed reports that its chief financial officer, Helen Weir, will leave the company in due course. Shares in the company rose 3.5 per cent [...]
Debehams share price: Short sellers pile in to bet against Debenhams ahead of Christmas shopping season November 7, 2017 The City appears to be pessimistic about Debenhams’ prospects this Christmas, with the amount of short-selling of the retailer’s stock rising to its highest level for more than four years. According to data from the Financial Conduct Authority, the amount of stock borrowed by hedge funds to bet against Debenhams’ fortunes has ramped up in [...]