Boxing Day footfall bounce for retail as West End chief calls for recovery help December 27, 2022 Retail destinations across the country reaped the rewards of a Christmas without Covid restrictions as Boxing Day sales enticed shoppers out of their houses. However, business leaders noted footfall was still below 2019 levels and called on the government to help accelerate retail’s recovery from the Covid-19 pandemic as it grapples with an economic downturn. [...]
Currys, Asos and Sainsbury’s top retail stocks this Christmas December 23, 2022 For investors looking to give their portfolios a seasonal shake-up, CityA.M. takes a look at analysts’ selections of the retail stocks to keep a close eye on in the coming weeks. Analysts at Hargreaves Lansdown chose Currys, Asos and Sainsbury’s as the three retail stocks to watch this Christmas. It comes as retailers have been [...]
Campaigners warn hiking rail fares could push people away from train travel December 21, 2022 Even a below inflation increase in rail fares could put people off travelling by train altogether, according to campaigners. Norman Baker, director of external affairs at advocacy group Campaign for Better Transport, told City A.M. that any increase to ticket prices will come “as a further blow to long-suffering passengers” after months “of cancellations and [...]
London businesses lament dismal start to 2023 after another rail strike set for January December 20, 2022 Hospitality leaders have reiterated calls for rail firms and unions to hash out an eleventh-hour resolution to swerve January strikes, after train drivers announced another walk-out. Train drivers at 15 companies in the union Aslef have agreed to strike on 5 January, as part of a long-standing pay dispute. The walkout will take place on [...]
Ikea: Sales up 13 per cent despite costs of living and inflation December 19, 2022 Ikea has revealed that sales jumped over the past year due to customers returning to its shops and price increases in the face of cost inflation. The Swedish furniture retailer revealed that total sales grew by 13 per cent to £2.2bn over the year to 31 August, compared with the same period last year. Peter [...]
Investors set to be cheered by Bunzl’s climbing profits December 18, 2022 Specialist distribution group Bunzl is set to have waded through cost inflation and supply chain challenges and emerged with strong sales at the end of the year. The FTSE 100 company, which sells global businesses a wide range of products from coffee cups to cafes, food wrap to supermarkets, and cleaning materials to hospitals, will [...]
Matalan’s founder John Hargreaves makes last attempt to retain control December 18, 2022 John Hargreaves has reportedly made a last attempt to keep control of Matalan, making a 50-50 offer with Elliot Advisors’ private equity arm. The 78-year-old businessman, who floated the company almost 25 years ago, is among one of Matalan’s four potential buyers. The other three are the retailer’s senior lenders and private equities Alteri and [...]
City eyes final economic data before Christmas shut down December 18, 2022 Although investors will be readying to get away over the Christmas break, there are a few economic data sets to get through before the City shuts down. Last week, London’s FTSE 100 index slumped nearly two per cent to close at 7,332.12 points as traders were bombarded by a barrage of global economic news. FTSE [...]
November sales down as online retail flops despite Black Friday December 16, 2022 Sales have slumped this November as Black Friday didn’t give online stores the boost it needed. Figures published today by the Office for National Statistics (ONS) show that retail sales volume contracted by 0.4 per cent following a 0.9 per cent rise in October. Online shops were hit the most as non-store retailing sales volumes [...]
JP Morgan raises China growth forecasts as country braces for Covid-19 spike December 15, 2022 JP Morgan has hiked its growth forecasts for China, after the sudden removal of its ‘zero-Covid’ laws paves the way for a brighter economy. The US bank now expects China’s gross domestic product (GDP) to grow by 30 basis points to 4.3 per cent next year. “The most important development in the past month is [...]