Burberry bounces back after customers splash out on gifts January 15, 2013 SHARES in Burberry yesterday bounced back from their September crash after the luxury goods maker said a pick-up in the Chinese market helped boost third quarter sales. The fashion brand sent shock waves through the luxury sector last year by warning of a global slowdown in spending – particularly in China. But yesterday finance director [...]
Halfords aims to revive Wiggo effect with new bike models January 15, 2013 BICYCLE and car parts retailer Halfords yesterday edged up its profit expectations for the full-year after enjoying healthy sales in car maintenance and top bike ranges in the Christmas quarter. The firm, which trades from over 460 Halfords stores in the UK and Ireland as well as over 260 Autocentres, said sales at stores open [...]
Tesco and Sainsbury’s maintain share after a festive dead-heat January 15, 2013 BRITAIN’S biggest retailer Tesco and third-place grocer Sainsbury’s tied in the battle for sales growth in the key Christmas period, according to data published yesterday. Market researcher Kantar Worldpanel said Tesco and Sainsbury’s both posted identical gross sales growth rates of 3.9 per cent in the six weeks ending 6 January, with market shares unchanged [...]
Analyst Views | Did Burberry perform better than expected in the third quarter? January 15, 2013 BETHANY HOCKING INVESTEC The all-important third quarter retail like-for-like of six per cent is better than our forecast for 0.5 per cent and consensus for around 0.7 per cent… The company remains cautious and points to volatile trading and weak footfall, but nevertheless Burberry had a better Christmas than expected. SAM HART CHARLES STANLEY Burberry’s [...]
Chocolate sales soar at Lindt January 15, 2013 Swiss luxury chocolate maker Lindt reported a pick up in sales growth yesterday, as cash-strapped Europeans cheered themselves up with treats like Lindor pralines and edible Christmas tree decorations. Sales rose 7.3 per cent last year to SFr2.67bn (£1.79bn). It reported strong sales in Germany, France and Britain in its main European market, with only [...]
Christmas diners fail to make up for weather at Spirit Pubs January 15, 2013 CUSTOMERS returned to taverns operated by Spirit Pubs over Christmas, although the influx did not make up for lower-than-expected sales during October and November. The company, which split from Punch Taverns in 2011, blamed the continuing wet weather towards the end of last year for it missing expectations, although rising food sales provided a boost. Spirit [...]
Provident Financial banks on credit card as its sales increase January 15, 2013 CUSTOMERS who are turned down by traditional lenders have flocked to Provident Financial’s credit cards, offsetting a subdued appetite for doorstep borrowing, the firm said in a trading update yesterday. The firm, which provides credit to borrowers who are rejected by high street banks, said its push to recruit more customers in the last quarter [...]
US retail enjoys welcome shot in the arm from Christmas 2012 January 15, 2013 THE US enjoyed a healthy climb in retail sales during the all-important December period, official data revealed yesterday. Retail and food services sales in December were $415.7bn (£258.4bn), the Commerce Department said, up 4.7 per cent on the year, and up 0.5 per cent on the month – even correcting for seasonal variations. The entire Christmas lead-up [...]
Bad news for pension reform – we’ll live far longer than ministers expect January 15, 2013 IN A democracy, it is always a risky business for politicians to tell the electorate things they do not want to hear. So Steve Webb, the pensions minister, must be congratulated. He told the truth about the retirement age. In a speech last week, he said bluntly: “If someone tells a 30 year old what [...]
Online shopping is masking the birth of hybrid retailers January 15, 2013 THE fall of yet another iconic British retailer, HMV, does little to assuage fears that the high street in its current form is in terminal decline. The statistics are bleak. According to a survey by PwC and the Local Data Company, 32 stores closed each day in July and August 2012. Over one gloomy five [...]