Mothercare shares fall as it puts the media in the firing line after losses widen in insolvency battle November 22, 2018 Losses have mounted at embattled childcare retailer Mothercare, which blamed it on critical press coverage of its financial woes as the company undergoes a restructuring process. Group managing director David Wood, who acted as interim chief executive earlier this year, stepped down from his position yesterday. Its share price fell more than 10 per cent as markets [...]
Footlocker shares leap on strong Nike sales November 21, 2018 Shares in trainer retailer Foot Locker jumped by as much as 20 per cent today after its third quarter results showed an increase in shoe sales, as customers flocked to buy Nike’s new Air Max range. Analysts had feared that Nike’s move to start selling shoes via Amazon and its own stores would hurt Foot [...]
West End retailers go to town on promotions to ensure expected £150m Black Friday boost November 21, 2018 Retail sales on London’s busiest shopping streets are expected to see a £150m boost over the Black Friday weekend amid challenging conditions on the high street, according to a trade group representing retailers in the area. Sales are expected to equal those of last year among around 600 retailers on Bond Street, Oxford Street and Regent Street, [...]
Upper Crust owner SSP’s share price falls as chief executive set to step down November 21, 2018 The chief executive of SSP Group, which owns popular food and beverage brands such as Upper Crust, Millie's Cookies and Ritazza, is set to step down next year. City veteran and former WH Smith chief Kate Swann will leave the firm at the end of May, to be succeeded by current UK and Ireland regional head [...]
Online sales are set to hit record levels on Black Friday as high street footfall declines November 21, 2018 The proportion of sales made online is likely to hit its highest level ever in November, boosted by a Black Friday internet shopping rush and fewer high street shoppers. Internet sales are expected to exceed 20 per cent of total retail sales for the first time ever this month, according to research by real estate firm [...]
B&Q owner Kingfisher plans foreign market exit as France drags down sales November 21, 2018 B&Q owner Kingfisher today said it will exit Russia, Spain and Portugal to focus on its struggling French operations after a drop in like-for-like sales in the third quarter, sending shares down more than two per cent in early trading. Total sales rose 1.2 per cent to £3.04bn in the three months to the end [...]
DEBATE: As discounts get out-of-control, is there a case for retailers to ignore Black Friday altogether? November 21, 2018 As discounts get out-of-control, is there a case for retailers to ignore Black Friday altogether? Michelle Ovens, director of Small Business Saturday, says YES. Black Friday started off as a day when consumers could enjoy making great purchases, but now it has just become a day for deep discounting – and that is incredibly damaging to small [...]
Weekly sales slump at John Lewis ahead of crucial Christmas period November 20, 2018 John Lewis Partnership has suffered its second consecutive week of tumbling sales, in a downturn that the retailer will be hoping to reverse as it enters Black Friday and the Christmas shopping season. Britain’s largest department store chain said today that total sales in the week to 17 November had plunged 6.8 per cent year-on-year, [...]
Bonmarche maintains dividend despite lower store sales shredding profits in half November 20, 2018 Retailer Bonmarche laid bare its high street struggles today after a recent profit warning, revealing that store sales fell in the first six months to the end of September despite a boost to online income. The figures Revenue came in flat in its half-year results compared to the same period last year at £97.9m. In-store like-for-like sales dropped [...]
How worried should we be about the slowdown in German manufacturing? November 19, 2018 German industrial production contracted by 1.2% in Q3 and is behind the general slowdown being seen in eurozone manufacturing. What is causing the decline and how concerned should investors be? Kaputte Autos Taking a closer look at the breakdown of Germany’s production data reveals that most of the economy’s manufacturing sub-sectors are performing well. The [...]