Chinese holidaymakers lead the charge over Christmas January 13, 2014 Wealthy foreign visitors helped keep Britain’s tills ringing over Christmas with spending up a record 40 per cent on the previous year. Chinese tourists led the charge, with spending up 52 per cent to around £741 per transaction in December, according to figures out today by tax-free shopping specialist Global Blue. While China accounted for [...]
Here’s why this analyst thinks Royal Mail shares could go higher still January 13, 2014 Royal Mail's announcement of a management team reshuffle has already been met with glee by one analyst. Robin Speakman of Shore Capital says that the changes "reflect transformation progress", and Speakman is convinced that the delivery company still has "strong potential … for profitable growth and development". Shore Capital are maintaing a "buy" rating on [...]
Morrisons shares buoyed by £800m property sell-off January 13, 2014 Morrisons topped the FTSE 100 this morning after a weekend report from the Sunday Times that the UK supermarket is planning a £800m property sell-off to raise money and placate vexed investors. The move follows the store's lamentable Christmas sales, revealed last week. It delivered a 5.6 per cent drop in sales, along with a [...]
Sports Direct buys up stake in Debenhams January 13, 2014 An unusual decision from Sports Direct this morning, but markets seem to like it. The retailer announced this morning that it's bought a 4.6 per cent stake in Debenhams. Shares in the latter have climbed over five per cent on the news: In a statement this morning, Sports Direct said that the move is to [...]
Greene King brews up record-breaking Christmas January 13, 2014 Pub retailer Greene King has posted a rise in like-for-like sales of five per cent for the last six weeks. The company achieved a six per cent rise in like-for-like sales over the years two most important trading weeks. Christmas Day proved to be the most successful in the company's history, with 62,000 meals sold, [...]
Morrison resists calls for radical property plans January 12, 2014 WM MORRISON is expected to resist calls by activists for a radical overhaul of its property portfolio, insisting instead that it will make some modest disposals within its freehold estate. In the aftermath of disappointing Christmas trading figures last week the supermarket group has faced demands from some dissident investors to take the knife to [...]
Online fashion giant Asos set to reveal sparkling Christmas sales January 12, 2014 ONLINE fashion giant Asos is set to report a leap in sales of as much as 38 per cent tomorrow thanks to rising demand in Germany and a strong performance in the UK. The online retailer is expected to have bucked the gloom faced by many bricks and mortar retailers this Christmas, with Peel Hunt [...]
Bottom Line: Supermarket needs to focus on web and sales, not real estate January 12, 2014 THE debate being waged over whether Morrisons should sell some of its freehold estate surely misses the point about the grocery chain’s future. There is nothing wrong with the structure of Morrisons’ estate that a little tinkering can not remedy. And it will remain, as it has insisted, “overwhelmingly freehold” – that is as long [...]
London Report: Retailers reveal where tills rang for Christmas January 12, 2014 RETAILERS are expected to reveal where UK shoppers showed their Christmas cheer, with a round of results in contrast to last week’s gloomy December tidings. Figures out this week from retailers such as Argos, Asos, Dixons, Ocado and Primark are expected to show increased sales. The successes are in contrast to the sales dips seen [...]
As retailers suffer poor Christmas sales – is a tech revolution their only hope? January 10, 2014 In the wake of poorer than expected Christmas trading results, a veteran of the retail trade is warning that if businesses fail to innovate, they will continue to face challenges getting customers to walk through their doors. Chief executive of mobile payment solutions specialist Powa Technologies, Dan Wagner, says that innovation is key for retailers [...]