Labour shadow business secretary Chuka Umunna calls for inquiry into collapse of City Link January 9, 2015 Labour's shadow business secretary has urged the government to initiate an inquiry into the controversial collapse of delivery giant City Link. Chuka Umunna piled pressure on the government, asking for a "full and proper inquiry" and adding "those who have lost their jobs and contractors who are owed money deserve nothing less". Business secretary Vince [...]
Ted Baker reaps good tidings from Christmas January 8, 2015 LUXURY fashion group Ted Baker has had a good Christmas. It saw retail sales up 23 per cent year-on-year in the eight weeks to 3 January and enjoyed a 66 per cent rise in online sales. “We will continue to invest in people and infrastructure as we expand the Ted Baker brand globally,” said chief [...]
M&S share price tumbles as Christmas delivery woes send sale figures plunging January 8, 2015 Delivery problems over the Christmas period have been blamed for poor quarterly results at Marks and Spencers, which sent shares tumbling by more than 3.5 per cent yesterday. The firm reported that sales of general merchandise, which included clothing and homewares, fell 5.4 per cent in the three months to 27 December, while international sales [...]
Signet Jewelers share price takes a hit despite Christmas sales boost January 8, 2015 Despite reporting a 4.2 per cent jump in sales during the eight weeks ended 31 December, shares in Signet Jewelers dropped by over five per cent yesterday. The retail jewellery business reported a 9.7 per cent jump in same store sales in its UK jewellery division, which includes H.Samuel and Ernest Jones. Mark Light, Signet’s [...]
Tesco soars as M&S suffers a slump on buoyant trading – London Report January 8, 2015 LONDON’S shares rallied strongly yesterday, amid a broad-based global equities rally, with supermarkets topping the FTSE 100 gainers after Tesco outlined plans to try to revive its fortunes. The FTSE 100 closed up 2.3 per cent at 6,569.96. Tesco was the best-performing stock on the FTSE 100, closing up 15 per cent at 209.25p. The [...]
Five hilariously aspirational videos for luxury flats in London January 8, 2015 Developer Redrow has come in for more than a bit of mockery in recent days, after it posted an ad for one of its tower blocks showing a man whose lifestyle seemed suspiciously similar to that of American Psycho character Patrick Bateman. But now Berkeley Group's St George arm has followed suit with an equally weird portrayal [...]
Tesco’s rising share price leads FTSE 100 higher January 8, 2015 Tesco became the biggest riser on the FTSE 100 this morning, with its shares jumping more than 11 per cent in lunchtime trading after it posted encouraging Christmas trading figures. By close of trading, Tesco's share price had soared 16.4 per cent. The rally helped the FTSE 100 to rise almost 2.3 per cent. Other [...]
Tesco turnaround: Dave Lewis says “We are facing the reality of the situation”. Here’s his statement in full January 8, 2015 Tesco's share price has risen 11.2 per cent today, after revealing better than expected results, a detailed turnaround strategy and the name of its new UK and Ireland boss, Halford's Matt Davies, who joins in June. Chief executive Dave Lewis has gone through a baptism of fire in his first few months at the [...]
Supermarket wars: Tesco, Sainsbury’s and Morrisons feeling the pressure in one share price chart January 8, 2015 Tesco’s share price is up today, and by a lot: 9.8 per cent at the time of writing. All in all, though, it’s been a bad past 12 months for supermarkets, with Tesco, Sainsbury’s and Morrisons share prices all sliding against the FTSE, which has itself dropped over the same period. Tesco’s story has been [...]
Tesco share price: One chart showing the rise, fall – and rise again? – of a retail empire January 8, 2015 Is turning around a supertanker really this easy? Tesco's share price rebounded more than nine per cent this morning after the retailer posted results showing Christmas sales fell a mere 2.9 per cent. Admittedly, that's hardly an impressive performance – but it's better than analysts had expected. If you're on a mobile, tap on the [...]