Carpetright sales drop as CFO leaves but pace of decline slows February 5, 2019 Carpetright’s UK like-for-like sales fell in the three months to the end of January, but the pace of decline slowed compared to the first half of the year, the retailer said in a trading update today. “Trading patterns have remained volatile week to week, against a backdrop of uncertainty and weak consumer confidence,” the company [...]
Supermarket sales boost consumer spending but high street woes continue February 5, 2019 Consumer spending returned to growth in January thanks to increased purchases of essentials, but high street retailers continue to feel the strain. Spending rose 2.9 per cent year-on-year last month thanks to a strong performance from supermarkets, which saw their highest rate of growth since April 2017 at 6.8 per cent, according to data from Barclaycard. [...]
Sunrise Records rescues HMV from administration, hoping vinyl sales will rejuvenate high street music titan February 5, 2019 Canadian music magnate Doug Putman was confirmed as the successful bidder for HMV today, saving the iconic high street brand from collapse. Putman’s Sunrise Records will snap up 100 HMV stores while 1,487 store and head office staff will transfer over. Read more: Canadian vinyl mogul emerges as late bidder for HMV The chain will continue to [...]
January discounts give retailers a boost but high street caution remains February 5, 2019 Retail sales rose last month thanks to a boost from January discounting, but retailers remain cautious as uncertainty on the high street continues. Total sales were up 2.2 per cent in January compared to the month before, an improvement from the 1.4 per cent increase seen in the same period last year and the highest [...]
Eurozone investor confidence slumps to four-year low as German slowdown and Brexit concerns hit the bloc February 4, 2019 Eurozone investor confidence has sunk to a four-year low as Brexit uncertainty and Germany’s continued slowdown added to the bloc’s woes. The Sentix Index, which monitors investor sentiment across the single currency bloc, fell to -3.7 for February, following a survey of more than 1,000 investors. Read more: Italy slips into recession as Eurozone growth disappoints [...]
Debenhams lending talks pay off as it closes in on store closure plan February 3, 2019 Debenhams will this week reveal it has bagged a cash injection from lenders as the struggling department store closes in on a radical restructuring plan. The embattled chain has been in discussions with lenders over recent weeks as it looks to refinance banking facilities over the next 12 months in a bid to stay afloat. [...]
Ocado investors set to quiz boss Tim Steiner over M&S food delivery deal February 3, 2019 Ocado boss Tim Steiner will be in the spotlight this week as he delivers the firm’s annual results amid reports of a possible partnership with Marks & Spencer. The two companies are said to be in talks over a food delivery partnership that would see the retailer use Ocado’s warehouses and delivery lorries. Read more: Ocado [...]
Interim Debenhams chair shortlisted for Moss Bros role February 1, 2019 The interim chair of Debenhams could be in line for the role of chair at suit retailer Moss Bros. According to Sky News, Terry Duddy has been shortlisted as a potential successor to current Moss Bros chair Debbie Hewitt, who will step down from her role later this year. Duddy took on the chairman role [...]
Oddbins falls into administration for the second time in eight years February 1, 2019 Oddbins today became one of the first high street casualties of 2019, as news emerged that the off licence’s owners have fallen into administration for the second time in eight years. Administrators Duff & Phelps confirmed that the companies behind Oddbins and a string of high street alcohol stores are now insolvent. Read more: Oddbins set [...]
Veganuary: Fast food chain Leon says over half of all meals are now vegan February 1, 2019 Vegans swamped fast food chain Leon this month as it sold over a fifth more plant-based meals in January. Vegan meals made up over half of all sales in Leon stores across the country, the restaurant said today. Read more: It's the end of Veganuary, but food retailers need to support vegans all year round and [...]