Mothercare woes mount January 8, 2014 SHARES in Mothercare plunged 30 per cent yesterday after the mother and baby products retailer issued a profits warning more than halfway into its turnaround plan. Mothercare is the second listed-retailer to issue a Christmas profits warning after Debenhams’ shock announcement last week, also blaming higher levels of discounting activity on the high street as [...]
Domino’s Pizza and Majestic Wines on the Christmas menu January 8, 2014 BRITONS are indulging in fine wine and takeaway pizzas, according to Majestic and Domino’s pizza who both reported strong sales growth yesterday. Majestic’s chief executive Steve Lewis said demand for wines worth over £20 soared over the 10 weeks to 6 January, helping to boost sales at stores open more than a year by 2.8 [...]
Good Christmas for New Look January 8, 2014 FASHION retailer New Look saw a 1.5 per cent increase in like-for-like sales over the Christmas period, a spokesperson confirmed yesterday. The UK’s second-largest women’s value store did not discount its products heavily, unlike its rivals, and still managed modest growth in the last seven weeks of last year. Despite the positive news, New Look [...]
Bottom Line: A costly decision hits Mothercare at home January 8, 2014 TEARS before bedtime for Mothercare yesterday as a profit warning sent shares down almost a third for the mother and baby retailer. Its turnaround plan, which brought the firm back to profit for the first time since 2010 last autumn, seems in danger of turning into a merry-go-round, leading things back where they were before. [...]
2013 was a big year for bank reform – but we must avoid global divergence January 8, 2014 ALMOST a year ago to the day, the chancellor predicted 2013 would be the year banking was reset. Entering 2014, it is worth remembering that pressing the reset button is only the start. In a hectic few days before Christmas, politicians in Washington passed the Volcker Rule, the UK’s Banking Reform Bill received Royal Assent, [...]
Waitrose checks out 22,000 items a minute on busiest day ever January 8, 2014 Waitrose saw its most successful Christmas on record, with sales for the twelve trading days up to 31 December up 6.5 per cent on the same period of 2012. In the five weeks to Christmas Eve, total sales (excluding fuel) rose 5.4 per cent from a year earlier. The store added that on the 23 [...]
Mothercare profit warning sees shares dive January 8, 2014 Mother and baby products retailer Mothercare has warned that "difficult trading" conditions could push its annual profits well below current market expectations. Shares are down over 27 per cent, at 305p, on the news. The company has been particularly squeezed by competitive discounting over the Christmas season. Like-for-like sales at Mothercare stores fell by four [...]
Sainsbury’s sees “strong” Christmas sales January 8, 2014 Sainsbury's has proved expectations that it'd break its lengthy sales increase record wrong – just. The supermarket has announced like-for-like sales, excluding fuel, rose by 0.2 per cent in the third quarter, and said it saw "strong" sales in the run-up to Christmas. This marks Sainsbury's 36th quarter in a row of like-for-like growth. Chief [...]
Domino’s takes away bumper sales growth in 2013 January 8, 2014 Domino's Pizza has seen like-for-like sales jump by an impressive 10.9 per cent in its 670 UK mature stores in the 13 weeks to 29 December. The takeaway food company said the rise in sales was partly driven by increased digital marketing activity, as well as a more favourable timing of the Christmas break compared [...]
M&S investor piles pressure for cash return January 7, 2014 MARKS & Spencer shareholders are putting pressure on the high street retailer to buy shares or increase its dividend, as the City braces itself for a gloomy trading update tomorrow. One top 20 investor told City A.M. “There is some pressure on management somewhat given that we are at the end of the turnaround strategy [...]