High Street boosts discounts September 25, 2011 HIGH street retailers stepped up the battle to win over cash-strapped shoppers this weekend by slashing prices and launching promotions, days after Britain’s supermarkets announced fresh price cutting campaigns. Top fashion retailers including Next and Gap launched a two day “flash sale” over the weekend, with items discounted at 50 and 30 per cent respectively [...]
Royal Mail to take on 18,000 Xmas workers September 19, 2011 ROYAL Mail is hoping to take on 18,000 extra workers from November to help cope with the traditional Christmas rush, in addition to its 130,000 permanent posties. Last year, the group took on 20,000 staff in its sorting offices at first, plus 3,000 extra workers to cope with disruption linked to the snow storms in [...]
London 2012 set for tickets scramble September 19, 2011 LONDON 2012 organisers are set to provoke a late scramble for tickets by holding back more than a million extra seats until next year. The first batch of tickets for next summer’s Olympic Games sold out in the summer – with the exception of the football competition. But thousands more spaces are expected to be [...]
Travelodge in revenue boost despite riots September 13, 2011 BUDGET hotel chain Travelodge yesterday reported a rise in revenues even though riots across London cost the firm £1m in lost sales and cancellations. Revenues from its 480 hotels were up 15 per cent in June, July and August. The firm cut prices by five per cent, taking the average room rate down to £42. [...]
RONNIE WOOD TURNS MILLION-DOLLAR TRADER AS STARS DIAL UP 9/11 RELIEF September 12, 2011 THE PACE was frenetic as Ronnie Wood approached the euro interest rates desk with intent to broker a multimillion deal for BGC Partners at yesterday’s fundraiser to mark the tenth anniversary of 9/11. “How do you like being a trader?” The Capitalist asked the Rolling Stone as he moved on to the euro and dollar [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 11, 2011 FINANCIAL TIMES JPMORGAN CHIEF SAYS BANK RULES ‘ANTI-US’ New international bank capital rules are “anti-American” and the US should consider pulling out of the Basel group of global regulators, Jamie Dimon, chief executive of JPMorgan Chase, has said. In an interview with the Financial Times, Mr Dimon said he was supportive of forcing banks to [...]
Home Retail boss expects sales to drop September 8, 2011 THE chief executive of Home Retail Group warned that hopes of an “Olympics bounce” on the high street next year could prove misguided. Terry Duddy told City A.M. that consumer confidence was as low as in early 2009. The Argos and Homebase owner reported a second quarter slump which stopped short of analysts’ worst fears. [...]
SuperGroup bucks high street gloom September 7, 2011 YOUTH fashion retailer SuperGroup expects to buck the high street gloom and achieve a solid Christmas after recording strong summer sales. The fast-growing firm, whose SuperDry clothes are worn by David Beckham and Leonardo DiCaprio, reported a 66 per cent rise in sales to £54m in the 13 weeks to 31 July. The group, which [...]
SuperGroup sees pickup in sales September 7, 2011 Fashion chain SuperGroup has said its sales growth is picking up as revenues jumped to £54m in the three months to August, 66 per cent per cent higher than in the same period in 2010. SuperGroup, which sells Superdry-branded clothes, saw its wholesale sales almost double £21m in the period on higher international demand for [...]
John Lewis sales lifted by back to school gear September 2, 2011 John Lewis posted a rise in weekly sales, boosted by parents splashing out on items ahead of the imminent start of the new school year. The employee-owned business said sales at its department stores increased 1.4 per cent to £58.6m in the week to August 27. Sales excluding VAT sales tax fell 0.4 per cent. [...]