Watches of Switzerland boosted by luxury watch demand in first half-year results since listing December 10, 2019 Watches of Switzerland said today that strong demand for luxury watches had helped it boost sales and profit in its first half-year results since floating in May. The high-end retailer said revenue grew 17 per cent to £428.7m in the six months to 27 October and adjusted profit before tax was up 112 per cent [...]
Lidl sales help it hit record stake in UK supermarket sector December 10, 2019 The biggest supermarkets shed yet more market share to discounters Aldi and Lidl in the three months to the start of December, new data out today reveals. The big four grocers saw their collective market share drop by over one per cent to 67.7 per cent as people delayed their Christmas shopping and Black Friday [...]
Mothercare sinks into deeper loss as sales slip December 10, 2019 Retailer Mothercare fell further into the red in the first half of the year, with its loss before tax rising to £21.2m in the six months to the end of October. The baby wear retailer also saw net debt rise to £24.5m in the period, representing a 14.4 per cent increase year on year. Read [...]
Inconvenienced store: McColl’s warns earnings will miss expectations December 10, 2019 Convenience store chain McColl’s warned earnings would narrowly miss expectations due to “unseasonable weather” and low consumer confidence. Revenue slipped 1.9 per cent for 12 months to the end of November, the firm revealed in a trading update today. Read more: Investors see signs of recovery at McColl’s after supply chain disruption It warned that [...]
Jaguar Land Rover sales fall despite hopes for Chinese recovery December 9, 2019 Jaguar Land Rover sales fell last month, despite the car maker seeing “green shoots” of a recovery in the all-important struggling Chinese market. The manufacturer, which is owned by Indian conglomerate Tata, saw retail sales drop 3.4 per cent year-on-year in November. Read more: British car industry troubles run far deeper than Brexit But in [...]
Too much regulation on bitcoin and cryptocurrency could scare away future tech innovators December 9, 2019 Back in October, the FCA closed its consultation on banning the sale of cryptocurrency derivatives to retail investors. A consultation that I hope will start a collaborative discussion, bringing crypto and its regulatory framework up to speed with the rapid growth of the industry. Thankfully, the FCA’s approach so far has been inclusive and forward-thinking. [...]
Tesco leads FTSE 100 risers as it weighs up Asia sale December 9, 2019 Shares in Tesco rose more than five per cent in early trading today, as investors welcomed reports that the company is exploring a sale of its Asian businesses. The supermarket giant has confirmed that it will launch a strategic review of options for its businesses in Thailand and Malaysia, including a potential sale. Read more: [...]
Angling Direct expansion continues as it reels in record Black Friday sales December 9, 2019 Fishing giant Angling Direct hailed a record period of trading over the Black Friday week as savvy discounting helped drive up profit. Read more: Angling Direct records 21 per cent rise in H1 sales The retailer reported an 11.3 per cent rise in sales to £1.86m between 25 November and 2 December, with Black Friday [...]
Wet weather dampens November retail footfall figures December 9, 2019 Wet weather and the anticipation of Black Friday deals dampened retail footfall figures last month, according to the latest research. Footfall declined 3.4 per cent in November, compared to a drop of 3.2 per cent in the same month last year, as shoppers held out for Black Friday bargains. Read more: Retail footfall down 10 [...]
Exclusive: Chilango eyes restaurant closures as it prepares to launch CVA December 8, 2019 Chilango is considering shutting some of its restaurants as it fights to avoid administration. The stricken Mexican chain will launch a company voluntary arrangement (CVA) as soon as tomorrow, ahead of a crunch meeting with shareholders next week. Read more: Questions over Chilango’s future after burrito chain calls in restructuring firm RSM The controversial restructuring [...]