Morrisons sales growth slows over Christmas January 9, 2012 Wm Morrison Supermarkets reported a slowdown in sales growth over Christmas and predicted cash-strapped shoppers would remain reluctant to spend this year, despite an easing of inflationary pressures. Britain’s fourth-biggest grocer behind J Sainsbury, Wal-Mart’s Asda and industry leader Tesco) said sales at stores open over a year rose 0.7 per cent, excluding fuel and [...]
Retailers’ warning: more woes to come January 8, 2012 RETAILERS fell into administration at a faster rate last year, with a leading industry body warning that tax hikes will see even more high street stores going bust in the months to come. Retail administrations totalled 183 in 2011, according to data released today by Deloitte — an 11 per cent rise on the previous [...]
Footfall still declining on the UK’s high streets January 8, 2012 FOOTFALL on the UK high streets fell by 1.1 per cent last year, according to data released this morning. The decline was not as steep as the 3.5 per cent drop recorded by Springboard — which conducts the research — in 2010. “Despite year-round negative news from retailers, footfall on UK high streets declined at [...]
Tesco set to unveil bleak Christmas January 8, 2012 TESCO is set to deliver its worst Christmas trading performance for decades this week after the supermarket’s £500m price cutting campaign failed to gather pace in the fierce battle for supermarket sales. Deutsche Bank, a house broker to Tesco, is forecasting a two per cent decline in like-for-like sales from UK stores in the six [...]
Don’t be unnerved by this retailer’s blip January 8, 2012 IN A WORLD of fierce supermarket price wars, and in the words of a well-known supermarket chain, every little helps. And every percentage point change in sales growth or underperformance can send alarm bells through the industry. Tesco’s own house broker signalling a two per cent decline in UK sales has surely raised some fears [...]
BILL OF THE WEEK January 8, 2012 THE OWNERS of Archer Street, the Soho members’ bar that opened shortly before Christmas, “prefer to remain anonymous”. But comedian Graham Norton and ex-cricketer Sir Ian Botham have been among the first to grace London’s first Billecart-Salmon champagne bar, as have – naturally – ten still-solvent investment bankers. The theatreland venue, where bar-staff perform numbers [...]
Eurozone New Year is dawn of the living dead January 8, 2012 SO we’re up and running. 2012 is fully underway and here I am with the same question I had in January last year. We’ve always presumed that whatever happens to the Eurozone, one way or another Northern Europe – specifically Germany – would eventually have to pay for it. What’s never been clearly answered is [...]
THE TIPSTER January 8, 2012 PLAYING ball on Tuesday will be Goals Soccer Centre – letting their fans have a peek at their post close trading update for the year. After seeing a sharp decline when the outdoor football centre reported a softer than expected trading period last time, can they move up the league with a better than expected [...]
Tearing your hair out over a man? It’s time to regain control January 8, 2012 HELPS SOLVE YOUR WORK-LIFE PROBLEMS DEAR VEXED: I met a guy at a Christmas party and we’ve seen each other a few times. I really like him but he’s playing it cool. Now I can’t stop thinking about him. When I get like this, I really struggle to concentrate on anything else – and have [...]
Blue Inc to take on D2 shops January 5, 2012 Blue Inc, the fashion chain backed by Sir Stuart Rose and the Reuben brothers, is set to buy up most of the remaining shops from collapsed retailer D2 Jeans. The retailer will take on around 20 of D2’s outlets from administrator BDO, according to reports. D2, which was formerly owned by billionaire Sir Tom Hunter, [...]