Jaguar Land Rover’s sales to retailers surge as semiconductor shortages ease January 9, 2023 Jaguar Land Rover today reported a surge in the number of sales to retailers, as the semiconductor shortages that have plagued the automotive industry for the past three years begin to ease. The luxury car maker produced 79,591 vehicles in the three months to 31 December, 15 per cent up on last year’s levels. Wholesale [...]
How a viral TikTok video about Prosecco helped Lidl record its busiest ever sales day January 9, 2023 Emma D’Arcy’s viral TikTok Negroni Sbagliato fad helped budget supermarket Lidl achieve its busiest day of trading in its 28-year history after sales of booze skyrocketed. The discount retailer recorded its busiest day ever on Friday 23rd December following a surge in customers switching over from more expensive rivals. The record trading came as [...]
How the Chinese New Year and covid rule changes could give a tourism boost to London’s West End January 6, 2023 London’s West End is looking forward to the return of Chinese tourists this month, after the easing of the nation’s zero-Covid policy – ahead of the Chinese New Year. China has seen a surge in Covid infections in recent months, with EU countries introducing testing requirements for travellers. Travel from and to China will be [...]
FTSE 100 Close: Standard Chartered pops after shock takeover rumours emerge January 5, 2023 London’s FTSE 100 extended its hot start to 2023 today, helped along the way by Asia-focused Standard Chartered surging after news emerged rival lender First Abu Dhabi Bank has been mulling snapping up the firm. Its shares shot up around a fifth during early exchanges in the City today, before paring back to eventually close [...]
Next boss Lord Wolfson: London’s High Streets had ‘more to worry about’ four years ago despite loss of brands like Topshop January 5, 2023 Next boss Lord Wolfson has “less reason to worry about the high street” compared to a few years ago, on the tail of a slew of household names shuttering. Physical retail was in a less concerning position than in recent years, when a switch to online shopping signalled a death knell for many staple retailers, [...]
Boots: ‘Lipstick effect’ boost to sales as cash-strapped shoppers help chemist post record-breaking Black Friday sales figures January 5, 2023 High street stalwart Boots saw sales jump in its stores over its Christmas trading period, as the return of tourism and office-working proved a shot in the arm for its city locations. The privately owned chemist said like-for-like retail sales leapt 8.7 per cent in its first quarter to November, marking record-breaking sales on Black [...]
Greggs: Baker on a sausage roll as it plots further expansion across UK January 5, 2023 Greggs has said it is on track for 150 net new stores this year as its value-proposition protects it from a wider consumer down-turn. In a fourth quarter trading update, the sausage-roll seller said its sales stood at £1.5bn, as the firm bounced back after experiencing pandemic-related disruption last Christmas. Sales had surged 23 per [...]
Next: Prices to rise in the spring – but boss hopeful inflation will ease in second half January 5, 2023 Next has warned it will lift prices further in the spring as the retailer’s chief said he was optimistic that inflation would let up in the second-half of the year. The fashion firm hiked its full-year profit guidance after seeing better than expected sales over the Christmas shopping period. The high street staple lifted its [...]
B&M: Bargains boost sales during ‘golden quarter’ – but will shares continue to rally? January 5, 2023 Bargain hunters gave discount retailer B&M a timely Christmas present as it looks to continue a share price rally that has seen its value jump 18 per cent in the last six months. In its third quarter trading update B&M reported 12.3 per cent year-on-year revenue growth of £1.5bn during the 13 week period 25 [...]
Cost of living fears don’t stop Brits spending record £12bn in supermarkets in run-up to Christmas January 4, 2023 BRITS brushed off cost of living and recession fears to spend a record £12bn in UK supermarkets in the run-up to Christmas.