THE TIPSTER January 17, 2010 Retailers have had mixed fortunes over the Christmas period. Although shoppers spent huge amounts of cash in the run-up to the festive season, not everybody has gained in the same way. Supermarkets and cheap high-street chains have out-performed – department store John Lewis recorded its best ever revenues in December. But others could not keep [...]
Retailers fear long hangover following Christmas splurge January 14, 2010 BRITONS defied the recession to splash out on laptops, TVs, food mixers and robotic hamsters at Christmas, but retailers fear cutbacks this year as real incomes are trimmed by taxes rise and unemployment. Analysts rushed to upgrade 2009-10 profit forecasts for firms including electricals group DSG, household goods retailer Home Retail and bicycles-to-car parts chain [...]
Banks and miners lift FTSE but retail shares take a dive January 14, 2010 STRENGTH in miners helped Britain’s top share index to a 0.5 per cent rise by yesterday’s close after soaring output figures from Rio Tinto boosted the sector, but retailers fell on weak trading updates. The FTSE 100 ended 24.72 points higher at 5,498.20 after falling for two days, pressured by China’s decision to tighten banks’ [...]
MANDY UNLEASHES HIS SHARP WIT AT BUSINESS FOR EUROPE DEBATE January 14, 2010 IT’S good to know that it’s not only opposition politicians who are subjected to the sting of Lord Mandelson’s acerbic tongue, but members of his own party as well. Mandy was yesterday morning in attendance at City superspinner Roland Rudd’s Business for New Europe event at the grand Victoria Embankment headquarters of investment bank JP [...]
DSG: Currys owner gets a lift from TV and computer sales January 14, 2010 CURRYS and PC World owner DSG International had better-than-expected festive sales figures after strong demand for TVs and laptops. Sales surged by eight per cent in the 12 weeks to 9 January. Analysts had only predicted a rise of between two and three per cent. Chief executive John Browett said: “Looking forward, we expect 2010 [...]
HMV: Weak performance of Waterstone’s is drag on trading January 14, 2010 MUSIC and book retailer HMV posted a fall in like-for-like sales over Christmas – dragged down by the poor performance of its Waterstone’s business. Sales in the five weeks to January were down 1.2 per cent overall even though the group’s CD and DVD chain in the UK and Ireland saw a lift of 2.2 [...]
ANALYST VIEWS: HOW HAVE STORES FARED DURING THE CHRISTMAS SEASON? January 14, 2010 SAM HART | CHARLES STANLEY “I think the overall performance of retailers has been impressive and a lot more resilient than expected. Halfords and DSG were slightly disappointing but the picture is a lot better than expected. I think one reason is that unemployment has not gone up to the levels anticipated.” JONATHAN PRITCHARD | [...]
Primark sales surge thanks to boom in budget fashions January 14, 2010 PRIMARK owner Associated British Foods (ABF) revealed healthy trading figures yesterday – mainly thanks to the budget fashion arm. Primark’s 196-strong chain saw sales rise 19 per cent in the 16 weeks to 2 January, with house broker Panmure Gordon estimating a seven per cent like-for-like sales rise as consumers made their way to its [...]
Mothercare sees strong trade January 14, 2010 Mothercare said yesterday that sales rose 4.6 per cent in the third quarter, after a strong Christmas performance helped its core business record its 18th consecutive quarter of sales growth. International sales rose 9.3 per cent – 14 per cent at constant exchange rates – and the group said it was on track to meet [...]
New-look Liberty in sales boost January 14, 2010 Sales at London department store Liberty rose almost 18 per cent across the last 12 months, with fragrances, menswear and scarves leading the push over Christmas. The figures helped the group’s revenue rise by 20 per cent. Liberty re-opened with a fanfare last year after a revamp. Takings from its website have tripled since the [...]