Sainsbury’s signs wholesale deal with Australia’s Coles November 11, 2019 Sainsbury’s has agreed a deal to provide Australian supermarket Coles with own-brand products as the UK grocery giant seeks to strengthen its wholesale business. The range, which will be labelled under the Coles brand, will include packaged groceries and household products. Read more: Sainsbury’s half-year profits slide Through the deal, Sainsbury’s will also analyse which [...]
On a roll: Greggs upgrades profit forecast again as sales increase November 11, 2019 Greggs has upgraded its profit expectations for the year after the bakery chain reported boosted sales for its latest period. Total sales were up 12.4 per cent in the six weeks to 9 November while like-for-like sales in company-managed shops increased 8.3 per cent. Read more: Greggs is cooking up vegan versions of popular products [...]
Retailers are hoping for a Christmas miracle November 11, 2019 The crucial Christmas trading season was once relished by high street bosses hoping to fatten their profits before the New Year. But so troubled is the sector that the once ‘Golden Quarter’ of retail has lost much of its shine, being viewed today by many executives as a way of raking in just enough cash [...]
Lidl ramps up expansion plan with 230 new stores November 10, 2019 Lidl’s expansion spree is set to accelerate, with the German discounter planning 230 extra store openings. The new store plan, first reported today in the Sunday Times, is the latest in a string of bullish moves from Lidl and Aldi, which have been snapping up an increasing share of the grocery market. In a bid [...]
Christmas adverts 2019: Watch retailers from Argos to M&S and Amazon launch their festive ad campaigns November 8, 2019 We might only be a week into November but some of UK’s biggest retailers have already launched their 2019 Christmas advert campaigns, as firms race to make the most of the crucial festive trading period after a challenging year for the high street. In what has become a festive tradition, retailers have pulled out all [...]
Games Workshop shares soar as profits beat £55m November 8, 2019 Games Workshop’s share price rocketed in early trading today after the model maker revealed profits and sales are ahead of last year. Trading between September and early November has beaten the company’s performance for the same period last year, with royalties receivable also “significantly ahead”. Read more: General Election announcement hurts October high street sales [...]
General election announcement hurts October high street sales November 8, 2019 High street sales plummeted at the end of October despite a healthy start to the month after the announcement that the UK would head to the polls for a December general election. The first three weeks of the month saw retailers defy poor footfall and challenging weather conditions to boost like-for-like in-store sales. Read more: [...]
Ikea shrugs off retail gloom to post sales rise November 7, 2019 Ikea reported an increase in full-year sales as it managed to overcome the challenges facing the UK retail market. Sales in Ikea’s UK business were up eight per cent year on year to £2.1bn, the retailer said in its annual report. Read more: Ikea to face tax repayment order from EU The company reported that [...]
Cautious investors drag equity funds to record quarterly outflows November 7, 2019 Cautious savers snubbed equities in September amid ongoing global uncertainty, driving the funds to their highest quarterly outflows on record. Equity funds saw £1.7bn of outflows in September, the fourth consecutive month of outflows. This takes equities’ total net retail outflows for the third quarter to a record £4.6bn, according to figures from the Investment [...]
Superdry revenue drops as rescue plan gets underway November 7, 2019 Superdry reported a sharp drop in revenue in the first half of the year as chief executive Julian Dunkerton began his rescue plan to revive the struggling retailer. Revenue declined 11.3 per cent to £367.8m in the six months to 26 October reflecting the beginning of an “expected year of reset”. Read more: Investors back [...]