EU targets Amazon in e-commerce antitrust probe July 17, 2019 Amazon is the subject of the EU’s latest antitrust probe, with the European Commission accusing the tech giant of abusing its dominance in e-commerce. The investigation, which began today, could see CEO Jeff Bezos’ retail behemoth lumped with a multi-billion dollar fine similar to other penalties issued to tech giant Google. Commissioner Margrethe Vestager said: “European consumers [...]
Burberry shares at 10-month high and challenging records July 17, 2019 After a stunning six-week rally, our head of markets explains why investors are still piling in today. If the market was waiting for signs of an immediate improvement in Burberry (LSE:BRBY) fortunes, it will not be disappointed as the fashion house has delivered an update which is much better than expected – and on a number of [...]
Talktalk holds guidance as full-fibre demand boosts revenue July 17, 2019 Broadband provider Talktalk today said its first quarter trading was in line with expectations, as growing demand for high-speed internet boosted sales. The telecoms firm posted a 1.3 per cent rise in revenue to £387m in the three months to the end of June, and said its full-year guidance remains unchanged. Read more: Talktalk narrows [...]
Sweet like chocolate: Hotel Chocolat credits ‘relentless’ innovation for sales boost July 17, 2019 Hotel Chocolat hailed its “relentless” innovation for a bumper rise in revenue for the 12 months to the end of June, it said in a trading update today. Read more: Hotel Chocolat tastes success after Christmas sales surge Sales soared 14 per cent to £132m for its financial year, while it expects profits to hit [...]
Rolex seller Watches of Switzerland posts soaring sales in maiden results July 17, 2019 The UK’s biggest seller of Rolexes enjoyed a surge in appetite for luxury watches over the last 12 months, it revealed today in its first financial results since floating on the London Stock Exchange. Watches of Switzerland, which begun life as a listed firm in the City less than two months ago, has reported a [...]
UK sales slump at Ladbrokes owner GVC as new £2 limit hits betting machine revenues July 17, 2019 Gambling operator GVC Holdings suffered a double-digit slump in its UK retail sales during the first half of 2019, blaming a recently-introduced £2 limit on fixed-odds betting terminals (FOBT). The Labrokes and Coral owner reported a 10 per cent fall in like-for-like retail net gaming revenue (NGR) in its UK market, driven by a sharp [...]
US retail sales beat expectations as economy blows hot and cold July 16, 2019 US retail sales beat economists’ expectations in June, official figures showed today, as the economy continues to send mixed signals to policymakers at the Federal Reserve. Read more: Dollar falls as US economy adds just 75,000 jobs in May and wage growth slows American shoppers bought 0.4 per cent more goods in June than they [...]
Burberry shares soar as customers welcome new designer’s collections July 16, 2019 Iconic British fashion brand Burberry boosted sales as new designs by creative chief Riccardo Tisci were snapped up by customers. Shares in the FTSE 100 firm were up 8.26 per cent this morning following the first quarter trading update. Read more: Burberry fails to stop the selling Retail revenue in the quarter to the end [...]
China growth slows to 27-year low as trade war pressure take its toll July 15, 2019 China’s economic growth slowed down to a 27-year low during the second quarter of 2019, as trade war tensions with the US escalated. Gross domestic product (GDP) in the country climbed 6.2 per cent in the three months to the end of June, falling from 6.4 per cent in the first quarter and marking the [...]
Retail footfall drops as June fails to hit 2018 temperatures July 15, 2019 Retail footfall fell again in June in the latest blow for the high street as cooler weather failed to live up to last summer’s heatwave. Retail footfall declined by 2.9 per cent in June this year compared to a dip of 0.9 per cent in 2018, according to the latest data from the British Retail [...]