Euro falls as data suggests Eurozone economy will grow just one per cent in 2019 April 18, 2019 The euro suffered today as economic data dealt a fresh blow to hopes for the Eurozone economy. Read more: Eurozone construction sector bounces back in February after weak January Germany and France’s manufacturing industries are contracting, a closely-followed index revealed, with both staying lower than the 50 measure representing growth. Overall, both the Eurozone’s leading [...]
Laybuy is the payment platform from New Zealand shaking up the way we budget and shop April 18, 2019 Here in the UK, there are really only two ways for consumers to pay for a purchase. Whether buying in a store or online, people will either pay upfront, using cash or a debit card, or they’ll use a credit card, which they can settle at a later date. There are drawbacks to both methods. [...]
Retail sales jump much higher than expected in March as shoppers keep spending April 18, 2019 Retail sales enjoyed a surprising boost in March climbing much higher than expected, led by a spike in food shopping. Sales rose 1.1 per cent month-on-month, above expectations of a 0.3 per cent drop as food store sales and non-store retailing drove the increase, according to the Office for National Statistics (ONS). Year-on-year sales jumped 6.7 per cent [...]
West End businesses lose £12m in two days during climate change protests April 17, 2019 West End businesses have lost an estimated £12m in sales due to the disruption caused by climate change protesters this week. Extinction Rebellion protests at Oxford Circus, Piccadilly Circus, Marble Arch have hit retailers in London’s main shopping district, with some stores reporting a 25 per cent drop in footfall. Read more: Climate change protesters target [...]
UK inflation rate holds steady at 1.9 per cent sending Britons’ real wages higher April 17, 2019 The UK’s headline annual inflation rate remained unchanged in March, staying at 1.9 per cent, meaning Britons’ real wages are increasing as pay growth outstrips price rises. Read more: London house price plunge drags down UK-wide growth rate Meanwhile the inflation rate including housing costs and council tax stayed at 1.8 per cent, where it [...]
Bunzl shares slump as sales growth slips at start of 2019 April 17, 2019 Bunzl’s shares plunged this morning as the business supplies group warned investors of slowing growth. Bunzl saw sales rise at the start of 2019, but blamed the US and macroeconomic factors for the slowdown in growth. Read more: Acquisition-heavy Bunzl drops as margins are squeezed The distribution giant said group revenue grew four per cent [...]
JD Sports shares rise as retailer bucks high street woes to boost profit and revenue April 16, 2019 JD Sports’ shares jumped today as it bucked the trend of struggling high street retailers to boost profit and revenue. Executive chairman Peter Cowgill credited the shoe and fashion store’s focus on remaining relevant to its millenial and Generation Y consumers for its success, saying the firm is “obsessed” with its customers. Shares rose 7.6 [...]
Tesco and Dunelm defy retail gloom April 16, 2019 By Graeme Evans from interactive investor. Impressive updates from Tesco and Dunelm show opportunities still exist in the embattled retail sector. A big hike in the Tesco (LSE:TSCO) dividend and an “incredible” trading update from Dunelm Group (LSE:DNLM) today combined to remind Brexit-weary investors there is life in the retail sector after all. The near-doubling [...]
Card Factory sales flat as high street footfall drops April 16, 2019 Card Factory saw sales remain flat last year as high street footfall levels dropped, the greetings card company announced this morning. The figures Card Factory’s like-for-like sales dipped 0.1 per cent while overall revenue rose 3.3 per cent to £436m in the year to the end of January 2019. Underlying earnings fell 4.9 per cent [...]
Monsoon Accessorize ‘will close dozens of stores’ across UK in latest setback for high street April 15, 2019 Fashion retailer Monsoon Accessorize is reportedly planning a spate of store closures using a controversial insolvency mechanism, in another blow for Britain’s embattled high streets. Read more: Revealed: All 15 LK Bennett stores set to close in Chinese sale The chain, which trades from nearly 270 stores across the UK, could announce “dozens” of closures [...]