Primark boosts revenue with new store openings but warns on like-for-like sales drop February 25, 2019 Primark said today it expects half-year sales to grow four per cent compared to last year, driven by new store openings, but the budget fashion retailer will post a two per cent drop in like-for-like sales. In the UK sales were up two per cent, while Eurozone sales jumped five per cent with strong growth in Spain, France, Italy and Belgium. However, [...]
Laura Ashley tells investors that it has not received a takeover bid February 24, 2019 Embattled British retailer Laura Ashley confirmed this evening that it has not received any takeover offers, as speculation mounts over a potential bid from entrepreneur Michael Flacks. The textile design company’s chairman said today that the group had no intention of selling its controlling stake following a Sunday Telegraph article which said that Flacks is [...]
Private equity player KKR reportedly circling Asda following Sainsbury’s deal setback February 24, 2019 US private equity house KKR is reportedly mulling a bid for Asda after a ruling last week by the competition regulator that could stymie its proposed tie-up with fellow big four supermarket Sainsbury’s. The Competition and Markets Authority (CMA) said last week that a deal between the two supermarkets could lead to "a substantial lessening [...]
New homes: Our pick of the new builds going on sale in London this weekend February 22, 2019 New developments on the market this week Acton Gardens, Acton From £430,000 Get on the Crossrail network with these new homes next to Acton High Street. Residents will have four train stations to choose from, including one linked to the high-speed rail network that is due to be running by the end of the year. [...]
Online tax could help a high street facing ‘bleak’ prospects, MPs say February 20, 2019 The government must seriously consider an online sales tax and change unfair business rates as the high street faces an “increasingly bleak” future, MPs have urged. The rates stack odds against retailers on a high street which needs reform after a string of prominent failures, the Housing, Communities and Local Government Select Committee found. Read more: [...]
Iceland Christmas sales fall despite furore over banned palm oil advert February 20, 2019 Iceland is set to reveal a decline in underlying sales over the festive period after its controversial Christmas advert failed to boost business. A report prepared for bondholders, obtained by the Financial Times, showed underlying sales fell by one per cent in the 16 weeks to 4 January. Read more: Iceland mulls bid for potential [...]
CMA may block Sainsbury’s-Asda merger, finding deal could push up prices and reduce quality February 20, 2019 Sainsbury's suffered a 15 per cent drop in its share price this morning after the grocer's £12bn proposed merger with Asda was thrown into doubt following a swathe of concerns raised by Britain's competition watchdog. The Competition and Markets Authority (CMA) said the tie-up could lead to "a substantial lessening of competition at both a national and local [...]
Laura Ashley warns on full-year performance amid market turbulence February 20, 2019 Laura Ashley has warned its full-year performance will fall short of market expectations after posting a drop in sales for its interim results. The homeware chain, which is owned by Malaysian United Industries, suffered a 4.2 per cent decline in like-for-like retail sales for the 26 weeks to the end of December. Read more: Laura [...]
Chilango’s minibond offers 8 per cent interest – that’s tasty, but is the burrito bond right for you? February 19, 2019 Last October, the burrito chain Chilango made headlines when it launched a new bond aimed at retail investors that pays an eye-popping eight per cent interest per year for four years. Compared to most high street banks, which currently offer just one or two per cent on cash savings accounts (well below the rate of [...]
Slowdown in retail investment as Brexit uncertainty puts sellers on hold February 19, 2019 Investment in retail property tumbled by several billion pounds last year, as owners of high street stores, retail parks and shopping centres showed a reluctance to sell at discount prices despite uncertainty over Brexit and a swathe of industry-wide pressures. A gap in price expectations between buyers and sellers of retail property is causing a [...]