Deep price cuts at Debenhams November 15, 2011 DEBENHAMS, Britain’s second-biggest department store chain, has ratcheted up the pressure on rivals, launching its annual five day pre-Christmas promotion with what it claims are its deepest ever discounts. The firm said yesterday it will cut the prices of tens of thousands of items in its 164 UK stores and online by up to 40 [...]
Sales are strong at Asda but high fuel costs keeping shoppers away November 15, 2011 SUPERMARKET group Asda yesterday reported a pick up in third-quarter sales growth, helped by revamped own-brand food ranges and a pledge to be cheaper than rivals. Sales at stores open more than a year rose 1.3 per cent, excluding fuel and VAT sales tax, in the three months to September, Britain’s second-biggest supermarket group said [...]
MADE IN CHELSEA DIAMOND HEIR DIGS DEEP FOR HIS NEXT VENTURE November 15, 2011 HIS FAMILY made their fortune digging for diamonds in the Congo and Sierra Leone, but Made in Chelsea stalwart Francis Boulle is interested in mines of a different kind. Fundmine, to be precise, an online investment platform that allows entrepreneurs to sell their company visions to private investors that has to date attracted £8.7m of [...]
CITY MOVES | WHO’S SWITCHING JOBS November 15, 2011 Deloitte Analytics Deloitte Analytics has strengthened its partner team in the UK with the appointment of consumer business specialist Jason Gordon, who will lead the division’s consumer business services team. In his new role, Gordon will advise retail, consumer products and travel, hospitality and leisure organisations on ways to gain improved insight and commercial value [...]
Majestic still upbeat after a dip in sales November 14, 2011 WINE retailer Majestic yesterday said it remained “cautiously optimistic” after its Christmas promotion got off to a good start, despite registering the first dip in sales since 2009. Sales at UK stores open for more than a year fell by 1.1 per cent in the six weeks to 7 November, after two weeks of “disappointing” [...]
ITV shows it has X Factor as sales rise November 14, 2011 ITV yesterday showed it still has the X Factor, reporting an jump in advertising revenue off the back of the Rugby World Cup and hit shows like Downton Abbey. However, the broadcaster is expecting the ad market to cool over an icy Christmas period, with projected revenues dipping as much as 10 per cent in [...]
Twilight firm sinks its teeth into a juicy profit November 14, 2011 THE DISTRIBUTOR of the Twilight franchise and owner of kids’ favourite Peppa Pig swung to its first six month profit since stepping up to the LSE last summer. Entertainment One (E1) posted pre-tax profits of £9.8m, up from a loss of £1.5m a year ago. Its revenues were up one per cent to £204.6m. The [...]
Majestic wine toasts profits rise November 14, 2011 Majestic Wine has seen a 20 per cent rise in half-year profits, as customers have bought more expensive wines. The company made pre-tax profitS of £8.8m in the year to 26 September, compared with £7.3m a year earlier. Its like-for-like sales rose 2.7 per cent while revenues jumped nine per cent to £127.8m. The company [...]
HMV turns the music off to open first tech store November 13, 2011 HMV HAS launched its first store dedicated to technology in London’s Square Mile in a bid to reverse its declining CD and DVD sales in the run up to the crucial Christmas trading period. The so-called techshop, located in Land Securities’ One New Change mall near St Paul’s, comes after the troubled retailer’s recent expansion [...]
John Lewis sees sales dip November 13, 2011 Department store group and traditional retail bellwether John Lewis said its sales had dipped slightly last week compared with the same week a year ago, as mild autumnal weather and a difficult economic backdrop deterred shoppers. The employee-owned business said yesterday that sales in the week to 12 November were £76m, up six per cent [...]