Fitbug shares have been halted January 18, 2017 Shares in Fitbug have been halted temporarily after earlier being energised by the British tech firm announcing a new deal to sell its wearables to a company workforce. The stock rocketed more than 130 per cent in early trading after announcing a deal with an unnamed global financial services firm based in Asia to use its devices to [...]
Burberry reports increased retail revenue in third quarter but growth in Americas declines January 18, 2017 Burberry said today its revenues had increased in the three months to 31 December, and it welcomed a return to growth in Asia. The figures Retail revenue was up four per cent on an underlying basis, to £735m, while like-for-like sales went up three per cent. The group said £77m of its £150m share buyback programme [...]
Game Digital shares drop after sales fall and cash burn January 18, 2017 Shares in Game Digital flopped over three per cent this morning after the firm revealed "tough" trading in the UK had hit sales. The figures Like many other retailers, Game focuses on its gross transactional value (GTV): effectively the value of sales before any discounts are applied. Reporting its half-year numbers to the end of December, Game [...]
Shoppers spent £133bn online last year, but the internet is hitting margins January 17, 2017 UK retailers raked in £133bn online last year as the internet's importance for the retail industry continued to grow. Research from IMRG and Capgemini shows that shoppers spent £18bn more online in 2016 than they did the year before, a growth of 16 per cent. Read more: John Lewis will cut staff bonus as profit comes [...]
US toymaker Mattel names former Google Americas president as new chief executive January 17, 2017 Mattel announced today it has named a new chief executive to help put a stopper in floundering sales. Margaret Georgiadis, who previously worked as president of Americas at Google, will take to the helm of the US toymaker 8 February. Georgiadis is set to replace Christopher Sinclair, who had only taken up the role as chief exec in 2015. He [...]
Hotel Chocolat’s revenue is up and chief exec Angus Thirlwell is “quietly confident” for the year ahead January 17, 2017 British chocolatier Hotel Chocolat has said it is "quietly confident" for the year ahead after posting increased revenue for the six months to 25 December. The figures Total group revenue for the period was up 16.2 per cent compared with the prior year, or 14.6 per cent on a constant currency basis. The chocolatier opened 10 new stores during [...]
London house prices edged closer to £500,000 in November January 17, 2017 The average house price in the capital edged closer to the half a million pound mark in November, rising to £482,000 for the first time. Figures published this morning by the Office for National Statistics (ONS) showed house prices in the capital jumped 8.1 per cent in the year to November, rising 1.9 per cent [...]
City Moves for 17 January 2017 | Who’s switching jobs January 17, 2017 Eversheds Frank Thompson has joined Eversheds' London insurance team. Frank has over 15 years of legal experience focusing on insurance coverage disputes and non-contentious coverage advice and has been ranked as a leading individual by Chambers and Partners for several years. Frank joins the firm as a lateral hire from K&L Gates where he earned recognition [...]
H&M’s share price falls after sales figures disappoint January 16, 2017 Swedish international clothing retailer H&M's share price fell 2.76 per cent in trading today after it reported disappointing Christmas sales figures. The group's total sales in December rose six per cent year-on-year in local currencies, but analysts had forecast a sales increase of eight per cent. Read more: Bow down, John Lewis – H&M drops a Christmas [...]
These are the key trends in retail in 2017 – and who will benefit from them January 16, 2017 The Christmas reporting season isn't over yet – the market is awaiting updates from Dixons Carphone and WH Smith – but the figures that have been reported so far have indicated some of the key retail trends investors should watch out for this year. Read more: Brexit vote boosts Hugo Boss The outlook for the UK consumer [...]