Tesco share price surges nine per cent after naming Matt Davies as new UK boss: sales drop, but turnaround begins January 8, 2015 Tesco's share price surged by more than nine per cent this morning, after the troubled supermarket outlined its turnaround strategy. It reported a fall in like-for-like sales of 2.9 per cent in the 19 weeks to 3 January – a better than expected set of results. The supermarket, which had a dismal 2014, set out [...]
Rush hour Tube chaos with severe delays on the Central, District and Piccadilly lines as London Bridge woes continue January 8, 2015 Soggy rush hour commuters were forced to endure severe delays on three Tube lines this morning, as signal failures held up journeys. Transport for London said there were severe delays to all destinations on the Central line thanks to a signal failure between Queensway and Lancaster Gate, on the District line because of a signal [...]
Ted Baker bucks high street trend with strong sales January 8, 2015 Ted Baker defied warm weather which kept shoppers away from high streets as sales surged over the Christmas period. The upmarket fashion group said retail sales rose 22.8 per cent year-on-year in the eight weeks to 3 January. Online sales also soared 66 per cent, boosted by an overhaul of its US website in July. [...]
Marks & Spencer share price falls as retailer records 14th consecutive quarter of clothing woes January 8, 2015 Marks & Spencer's share price fell more than 2.2 per cent in early trading, after the struggling retailer revealed below-expectations results. Online delivery delays and "unseasonal conditions" proved to be a nightmare before Christmas for Marks & Spencer, as general merchandise sales slumped for the 14th consecutive quarter. Like-for-like sales in general merchandise – which [...]
Sainsbury’s hit by worst Xmas sales in 10 years January 7, 2015 SAINSBURY’S said yesterday that a surge in demand for its top-end food ranges and clothing helped the retailer beat Christmas forecasts, despite posting its first drop in festive sales in over a decade. Like-for-like sales, excluding fuel, dropped by 1.7 per cent in the 14 weeks to 3 January, as total sales fell by 0.4 [...]
Operations for bosses leaves UBM rudderless January 7, 2015 BRITISH events group UBM announced yesterday it would be without its chairman and chief executive officer for at least two months, with both having taken medical leave to recover from operations. Chairman Dame Helen Alexander is currently recovering from a recent unspecified operation and is expected to return to work in March. Chief executive Tim [...]
Bookseller Foyles turns over a new leaf as Christmas sales rise January 7, 2015 Foyles yesterday posted a surge in sales over Christmas as bookworms flocked into its newly refurbished stores at the Royal Festival Hall and in Charing Cross. The bookseller said like-for-like sales increased by 8.1 per cent in December, with sales up 18.2 per cent at the Royal Festival Hall branch. Its flagship bookshop at 107 [...]
Majestic Wine share price tanks 17pc after pricing competition warning January 7, 2015 Shares in Britain’s largest specialist wine retailer Majestic plummeted 17 per cent in trading yesterday after it warned the increased pricing competition that saw it cut profit margins over Christmas would continue into 2015. The Watford-based company’s 1.1 per cent like-for-like sales growth over the 10-week Christmas period was a heavy decline on its 2.8 [...]
Boohoo in tears as shares hit by profit warning January 7, 2015 BOOHOO’S shares plunged more than 40 per cent yesterday after the online fashion retailer issued a profit warning, blaming heavy discounting across the UK high street. The company, which made its debut on London’s junior market in March, said price cuts by high street rivals looking to shift jumpers and coats following warm autumn weather [...]
Retail collapses decline despite Bank’s woes January 7, 2015 THE NUMBER of retailers that collapsed into administration fell by more than a third last year as the high street benefited from improving consumer confidence, according to Deloitte. Some 119 retailers fell into administration, down 35 per cent on 2013, when 183 high street names were forced to close their doors, the professional services firm [...]