Morrisons loses market share to its competitors January 14, 2014 WM MORRISON’S troubles over Christmas were further underscored yesterday by figures that showed that the grocer was the only one of the big four supermarkets to suffer a fall in overall sales in the past 12 weeks. Kantar Worldpanel data showed the retailer’s market share dropped to 11.5 per cent in the 12 weeks to [...]
Slump for Asos despite stellar Christmas sales January 14, 2014 ASOS shares slid yesterday despite the online fashion retailer posting another set of glowing results, boosted by sales in Europe and a surge in UK customers clicking online in the run-up to Christmas. The retailer’s shares fell as much as seven per cent before closing down three per cent yesterday, with analysts pointing to an [...]
Spirit Pub Company planning to start buying more pubs this year January 14, 2014 SPIRIT Pub Company, the firm behind brands such as Chef & Brewer, Flaming Grill and Fayre & Square, yesterday reported a seven per cent rise in sales during the 20 weeks to 4 January due to strong trading over the Christmas period. The firm said it is continuing with work to grow its own managed [...]
Moss Bros to beat forecasts after surge in its Christmas revenues January 14, 2014 SUIT specialist Moss Bros said yesterday it expected to post a full-year profit ahead of market expectations after a surge in sales over the Christmas period. The firm, which sells and hires out formal clothing, said sales at stores open over a year jumped 12.9 per cent ahead of the same period a year ago for [...]
London Report: Financials hold FTSE down yet Sky gives a lift January 14, 2014 BRITAIN’S top share index steadied near two-month highs yesterday, with a sell-off in financials offset by a crop of solid updates in the healthcare and retail sectors, while BSkyB shares jumped following a note from UBS. The broadcasting giant closed up 3.75 per cent after UBS analysts suggested various potential merger activities and said the [...]
Energy bosses to be grilled by MPs over Christmas outages January 14, 2014 December saw hundreds of thousands of homes without power as severe weather hit networks. Now MPs want to question energy bosses over the disruption. On 21 January they'll be called before the Energy and Climate Change Committee. Committee chair Tim Yeo MP said that they "will be questioning the distribution companies responsible and asking them [...]
Asos storms forward as Christmas sales leap 38pc January 14, 2014 Asos' stellar Christmas has demonstrated the draw of online shopping over the high street – the fashion giant saw sales jump 38 per cent to £36m in the four months ended December. Analysts had predicted a 35 per cent rise in sales over the festive period; the store said it's enjoyed "another strong Christmas", with [...]
Christmas fails to avert footfall slump for retail January 13, 2014 THE RECENT upturn for the British economy did not extend to high streets last year, as the full extent of the drop in footfall to bricks-and-mortar retailers during 2013 is revealed. The full figures for 2013 footfall released by the British Retail Consortium (BRC) and Springboard show that Christmas sales failed to spur growth for [...]
Ashley swoops on Debenhams January 13, 2014 MIKE ASHLEY’S Sports Direct is set to meet with the board of Debenhams after the sportswear giant made a surprise swoop on the struggling retailer and snapped up a 4.6 per cent stake. Neither of the companies commented on when the meeting was likely to take place, but both sides said they were open to [...]
The Japanese taste for British and US classics January 13, 2014 WE LOVE a bit of sushi in the City, sipping sake at the top of the Heron Tower or sampling the latest sashimi in Roka – but it looks like our friends in Japan have reciprocated and developed a taste for all things western, snapping up British and American brands faster than you can say “sayonara [...]