HMV and Debenhams to shut stores as high street makes difficult start to the year January 5, 2020 HMV and Debenhams have confirmed that they will close stores in a challenging start to the year for UK high streets. Music store HMV said that it would shut three stores at the end of January, new new tenants set to take up the leases immediately. Read more: High street sees slight increase in December [...]
UK High Street sees slight increase in December sales January 4, 2020 UK shops saw a marginal increase in December sales year-on-year driven by widespread discounting, a new survey revealed on Saturday. Sales in British shops were up 0.7 per cent for the month compared with 2018, according to the accountancy and business advisory firm BDO’s monthly High Street Sales Tracker. Read more: Next raises forecast after [...]
Next raises forecast after Christmas sales beat expectations January 3, 2020 Clothing retailer Next continued its strong progress as the company beat its internal forecast for its Christmas performance by 1.1 per cent. In a trading statement, the company said that total full price sales for the fourth quarter were up 5.2 per cent, with sales for the full year up 3.9 per cent. Read more: [...]
UK stocks 2020: Which shares are City A.M. staff backing in the new year? December 30, 2019 The UK stock market looks set to end the year on a high after the Tories’ election win and progress in US-China trade talks alleviated the uncertainty that has weighed on markets for months. But the road ahead is far from clear, with the looming Brexit date of 31st January and various upcoming trade negotiations [...]
Boxing Day spending set to fall after Brits cash out on bumper Black Friday December 26, 2019 UK shoppers are set to tighten the purse strings in the Boxing Day sales this year after retailers bagged a record performance over the Black Friday weekend. Brits are expected to spend £3.7bn in post-Christmas sales this year, £200m less than in 2018, according to new figures from Barclaycard. Read more: Super Saturday fails to [...]
All the big high street retailers that collapsed in 2019 December 23, 2019 It has been another turbulent year for the UK high street, which has struggled to adapt to changing consumer behaviour while battling rising overhead costs. Household names such as Debenhams, Mothercare and Clintons hit the news after they were forced to launch restructuring plans, close stores or simply stop operations. Read more: Why high street [...]
What does the Conservatives’ victory mean for the UK economy and markets? December 20, 2019 The large majority for Boris Johnson’s Conservative party sees the pound and UK shares react positively, as investors welcome greater clarity on the policy backdrop. The pound climbs against other major currencies and stock markets gain as the scale of the Conservative win removes policy uncertainty. Within UK equities, companies whose operations focus on the [...]
Retail sales dip in November despite discounting December 19, 2019 Retail sales dipped last month as UK shoppers showed signs of “discount fatigue” in the run up to Black Friday and Cyber Monday. The amount spent in the three months to November dropped 0.3 per cent compared to the previous three months. Read more: Are there any signs retailers could be in for a merry [...]
Co-op owners sound out potential buyers December 18, 2019 The hedge fund owners of the Co-op Bank are reportedly on the hunt for potential buyers. Two-and-a-half years after the lender was rescued from collapse, the US investors which took control of the Co-op have started holding talks with possible bidders, according to Sky News. The broadcaster cited sources as saying that several British retail [...]
Sotheby’s wine business toasts record-breaking year December 17, 2019 Sotheby’s Wine toasted sales of more than $100m (£75.9m) for the second consecutive year in 2019, following a string of record-breaking auctions, as wealthy investors seek alternative asset classes. The auctioneer reported total auction sales of $118m in 2019, an increase of 20 per cent, in a year that saw Sotheby’s in London record its [...]