Poor trading over Christmas period dulls Tiffany and Co’s outlook January 18, 2019 Luxury US jeweller Tiffany and Co has become the latest retailer to suffer in a global downturn as it reported a decline in sales over the Christmas period. Worldwide net sales declined one per cent to $1.04bn and like for like sales were down two per cent for the two months ending 31 December. Read [...]
Boris Johnson says delaying Article 50 would erode trust in politicians January 18, 2019 Boris Johnson warned today that politicians risk losing the electorate's trust if they were to delay Brexit by extending Article 50 beyond 29 March. In a speech at building machinery giant JCB’s headquarters in Staffordshire this morning, he said: “It's overwhelmingly likely we will get a deal, a good deal – we just won't get [...]
Shopping centre put up for auction for £1 as retail sector looks to a challenging 2019 January 18, 2019 Worries on the high street were compounded this morning as a Scottish shopping centre was put up for sale for a solitary pound. The Postings Shopping Centre in Fife boasts a pharmacy, a bakery and a cafe over 80,618 sq ft. Read more: Retail sales fall as 'suffocating' Brexit uncertainty envelopes UK high streets However it [...]
Toy retailer The Entertainer posts bumper sales growth in Christmas trading January 18, 2019 The Entertainer toy group has reported strong sales growth over the Christmas period despite retailers facing the most challenging festive trading season in a decade. The family-owned retailer, which sells online and through its stores, said sales for the five weeks to 29 December were up 22.4 per cent on the same period in the [...]
Retail sales fall as ‘suffocating’ Brexit uncertainty envelopes UK high streets January 18, 2019 Retailers suffered a weak end to 2018 as Brexit uncertainty saw shoppers spending less in the face of Brexit uncertainty, the latest data shows today. Sales fell 0.9 per cent month on month in December as shoppers kept their purses closed, the Office for National Statistics data revealed. Read more: All the high street giants [...]
Slippers and sleep: Mattress founder saves Mahabis from administration January 18, 2019 Mahabis, the self-styled “Nike of downtime”, has been saved by a similarly cCHILL retailer – the owner of mattress maker Simba Sleep. Founder James Cox’s investment boutique YYX Capital has snapped up Mahabis’ assets, after the luxury slipper retailer fell into administration over Christmas. Read more: Mahabis drops into administration after mounting debts Founded by trained [...]
New Look slapped with fresh downgrade as Moody’s casts doubt over restructuring plan January 17, 2019 Moody’s, the influential ratings agency, has downgraded New Look’s senior secured notes rating, just days after the retailer unveiled a restructuring deal aimed at cutting its debts by £1bn. On Monday, New Look agreed a debt-for-equity swap proposal to reduce debt from £1.35bn to £350m, and also announced a £150m capital raise through the issuing [...]
N Brown sales slide in wake of ‘challenging’ Christmas January 17, 2019 Shares in plus-sized fashion group N Brown slumped more than eight per cent this afternoon after the e-commerce giant became the latest retailer to report a fall in sales over the Christmas period. Growth in online trading was offset by a slump in its traditional catalogue-focused arm, with revenue in N Brown’s mail-order catalogue brands, [...]
Premier Foods logistics issues take a slice out of third quarter revenues January 17, 2019 Mr Kipling maker Premier Foods saw sales fall in the third quarter after logistics problems ate into revenues. The food manufacturer, which also makes Bisto and Oxo cubes, said sales fell 2.2 per cent to £256m in the 13 weeks to 29 December. Read more: Tesco and M&S reveal stockpiling amid concerns of a 'no deal' [...]
Advertising watchdog issues ultimatum to retailers over faux fur January 17, 2019 The advertising watchdog has issued an ultimatum to retailers to ensure products they advertise as fake fur do not contain real fur. UK retailers have until 11 February to ensure their adverts are accurate, according to the Committee of Advertising Practice (CAP), which draws up advertising regulations. CAP warned firms may face sanctions if they [...]