It was a very merry Christmas for Morrisons with sales up 2.9 per cent January 10, 2017 Morrisons today revealed that sales in the nine weeks to 1 January were the strongest the supermarket has seen for seven years – and it's raised its expectations for full year profits. The group's shares jumped 4.5 per cent at the open. The group reported a 2.9 per cent jump in like-for-like sales excluding fuel – with [...]
Boohoo sets the online shopping trend to start the New Year January 10, 2017 Boohoo.com has ended 2016 on a high and looks set to continue the form into the New Year, with the online clothing retailer reporting strong increases in revenues and raising its revenue guidance for the start of this year. The figures Revenues grew 55 per cent, with growth in America particularly impressive: US revenues increased by [...]
Consumer spending cooled in December after post-Brexit spending spree January 10, 2017 Consumer spending cooled towards the end of 2016, pointing to a slowdown in Britain's spending spree following the Brexit vote. In October and November, consumer spending growth hit 5.5 per cent and 5.1 per cent respectively, according to Barclaycard. But this figure fell to four per cent growth year-on-year in December. Read more: Aldi bags [...]
UK retail scores “solid yet unspectacular” end to 2016 January 10, 2017 Retailers are bracing themselves for a possible slowdown in consumer spending this year, but the sector ended 2016 in (relatively) good health, thanks to a strong performance on Christmas week. Like-for-like sales in UK retail increased one per cent year-on-year in December 2016, according to figures from the British Retail Consortium (BRC) and KPMG, improving from a [...]
Single Market blues: The pound’s fallen to its lowest level against the dollar since October January 9, 2017 The pound today fell to its lowest level against the dollar since October last year, after comments by Theresa May caused investors to shy away from the currency. The pound plunged one per cent to $1.2122 in afternoon trading. It also fell more than one per cent against the euro, to a day-low of €1.1491, [...]
Senior Tory MP Andrew Tyrie is demanding details in Theresa May’s Brexit plans January 9, 2017 Senior Tory Andrew Tyrie is demanding the government explains its hopes for the Single Market as part of a Brexit plan promised last year. Last year, Prime Minister Theresa May committed to revealing more on the UK goals ahead of triggering Article 50, and now Tyrie, who chairs parliament's influential Treasury Committee, is demanding that any [...]
Justin Thomas survived extraordinary finish to beat Hideki Matsuyama, Jordan Spieth shows promising signs, Rory McIlroy to start year in unusual circumstances, and why Jim Furyk can be a great captain January 9, 2017 He won well in the end but it took an extraordinary finish before Justin Thomas clinched his second PGA Tour title already this season at the Tournament of Champions in Hawaii on Sunday. Thomas led by two overnight and stretched his advantage over the red-hot Hideki Matsuyama to five shots, only to see that gap [...]
24-hour Tube strike disruption to cost the capital tens of millions January 9, 2017 Commuters might've had a miserable journey into work this morning, and businesses haven't been enjoying the 24-hour Tube strike much either. The industrial action, organised by the Rail, Maritime and Transport (RMT) union and The Transport Salaried Staffs' Association (TSSA), has resulted in a plethora of station closures and disruption across the capital. This has [...]
Marks and Spencer chairman rejects demand for reversal of company’s benefit cuts January 9, 2017 The chairman of high street stalwart Marks and Spencer has defended the company's decision to cut some of the benefits it offers to employees. Last year M&S staff were asked to sign new contracts ending benefits such as double pay for employees working on Sundays. MPs asked to meet M&S chief executive Steve Rowe to discuss the changes, [...]
Don’t have a clue what’s going on with your credit card? You’re not the only one January 9, 2017 If you've not yet braved checking your credit card statement following the Christmas spend, you're not alone… Credit card carrying Brits are routinely putting their head in the sand when it comes to the state of their finances, figures out today show. Slightly less than two-thirds (64 per cent) of those surveyed by MoneySuperMarket check their [...]