Portugal on the brink as fear returns January 10, 2011 PORTUGAL is scrambling to avoid being hit by the Eurozone debt crisis, amid mounting expectations of a third bailout for the currency region. Analysts yesterday said that only the European Central Bank’s special bond purchasing programme is standing between the country and a rescue. With Portugal facing its first sale of long-term debt tomorrow, figures show [...]
Ocado sales increase but jury still out January 10, 2011 ONLINE grocer Ocado yesterday reported a 27 per cent sales rise in the four weeks to Christmas – but some analysts still questioned the company’s progress following a troubled float. The firm posted gross sales of £50.9m for the period, helped by more customers shopping online instead of going to supermarkets in freezing weather conditions. [...]
Debenhams: our market share is up January 10, 2011 DEBENHAMS claimed it was winning market share from rivals as it posted a small rise in sales over the key Christmas trading period that was affected by December’s snow. Sales at stores open more than a year increased 0.3 per cent including VAT sales tax in the 19 weeks to 8 January. Chief executive Rob [...]
Morrisons sees slim Xmas lift January 10, 2011 WM MORRISON Supermarkets posted a modest rise in Christmas sales yesterday, held back by disruption from severe weather and a tough consumer backdrop. Britain’s fourth-biggest grocer behind market leaders Tesco, Asda and J Sainsbury said sales at stores open at least a year rose one per cent, excluding fuel and VAT, in the six weeks [...]
Virgin witholds BAA charges in snow row January 10, 2011 SIR RICHARD Branson’s airline Virgin Atlantic has refused to pay fees owed to airport operator BAA following the chaos at Heathrow during the icy weather, and said it might take legal action. Virgin plans to withhold bills for landing and parking planes until it sees the results of an internal BAA inquiry into the disruption, [...]
Winter freeze knocks retail sales growth January 10, 2011 HIGH street spending took a severe hit from last month’s snow, the British Retail Consortium (BRC) confirmed today. Like-for-like sales in December dropped by 0.3 per cent on the previous year, the group reported, although for the whole of 2010 these sales increased by 0.8 per cent. “The unusually early winter weather made a difficult [...]
Persimmon in bullish mood as sales surge January 10, 2011 HOUSEBUILDER Persimmon yesterday said underlying pre-tax profit for 2010 will be at the top end of market views, despite bad weather knocking sales before Christmas. The UK’s largest homebuilder by market value, which is led by chief executive Mike Farley, said it completed 9,384 homes in the year ended 31 December, against 8,976 last year. [...]
FOOD & BOOZE NEWS January 10, 2011 EAT CHEAP IN BATTERSEA The Fish Place, the recently-opened high-quality seafood restaurant on Bridges Court Road in Battersea – which uses the nearby heliport to fly in fresh catches from the coast most days – is offering a rather splendid deal for those whose wallets need a bit of a New Year respite. From 25-30 [...]
Miners and debt concerns leave FTSE lower January 10, 2011 EXCITEMENT over takeover talks at joint replacement specialist Smith & Nephew was not enough to keep the FTSE in positive territory as miners weighed on the index today. The FTSE 100 closed down 37.39 points or 0.6 per cent at 5,946.94 as worries over demand for copper in China and the impact of floods in [...]
Debenhams markets share “on the rise” January 10, 2011 Debenhams has claimed it is winning market share from rivals as it posted a small rise in sales over the key Christmas trading period that was hit by December’s snow. Chief Executive Rob Templeman said he was pleased with the department store group’s Christmas performance given the adverse weather that gripped the nation last month [...]