Burberry tops FTSE 100 January 15, 2013 The leading share index was modestly higher in early deals, as Burberry was the star performer following an upbeat trading statement. The British luxury brand soared 5.2 per cent on the FTSE 100 this morning, as investors were cheered by its latest trading statement. Revenue over the third quarter jumped nine per cent, thanks to [...]
Burberry sales jump in third quarter January 15, 2013 Luxury brand Burberry this morning posted a nine per cent jump in underlying revenue over the third quarter, thanks to a strong week of trading before Christmas. The retailer racked up total sales of £613m over the three months to 31 December. Retail revenue from the group, which last year issued a shock profit warning, [...]
Day the music died January 14, 2013 HMV has collapsed into administration after last-ditch attempts to save the crisis-hit music retailer came to an abrupt end last night, putting 4,000 jobs at risk and signalling the end of more than 90 years on the British high street. Deloitte, which has been advising HMV’s consortium of lenders led by Lloyds Banking Group and [...]
Moss Bros raises profits outlook after strong Christmas trading January 14, 2013 MENSWEAR retailer Moss Bros Group said yesterday it expected full-year results to exceed market expectations, helped by sales during the Christmas period. The company said like-for-like sales during the 24 weeks to 12 January rose 2.7 per cent. The suit specialist, which sells and hires out clothing through its Moss Bros Hire, Moss Bespoke, Moss [...]
Hobbs reports surge in sales at Christmas January 14, 2013 HOBBS, the upmarket womenswear chain, enjoyed a surge in sales over the Christmas trading period, boosted by a record online trading. The chain said total sales rose 16.4 per cent in the 10 weeks to 5 January, driven by a 60 per cent jump in online sales. That compared with a six per cent rise [...]
Christmas cheer raises spirits at Greene King January 14, 2013 RECORD numbers of people flocked to Greene King pubs over Christmas as the company ramped up efforts to bring in festive diners. The pub owner and brewer revealed yesterday that like-for-like trading in its establishments was up 2.8 per cent in the six weeks to 6 January, while pub sales were up 6.8 per cent [...]
Best of the Brokers January 14, 2013 WM MORRISON UBS rates the supermarket “neutral” and has cut its price target by 20p to 250p following lacklustre Christmas trading figures announced last week. The analyst warns that Morrison’s cost-cutting plan is being made more difficult by underlying declines in sales volumes and cost inflation. UBS has also pared its like-for-like sales forecasts for [...]
Little Christmas cheer for retail January 14, 2013 Chief Market Strategist, Cantor Index THE official retail activity figures, which are posted monthly or at specific times like Christmas, are accurate but often indecipherable to the layman. The small print is where the message is. And the most recent figures suggest that Christmas was great for some, but brutal for others. The situation was [...]
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Greene King enjoys record Christmas trading January 14, 2013 Pub group Greene King hailed a strong festive period this morning, as it posted record sales through Christmas and the New Year. Over the past six weeks, like for like sales growth came in at 2.8 per cent, and Greene King said it enjoyed record Christmas Day sales of £2.7m, up 6.8 per cent year [...]