UK retail scores “solid yet unspectacular” end to 2016 January 10, 2017 Retailers are bracing themselves for a possible slowdown in consumer spending this year, but the sector ended 2016 in (relatively) good health, thanks to a strong performance on Christmas week. Like-for-like sales in UK retail increased one per cent year-on-year in December 2016, according to figures from the British Retail Consortium (BRC) and KPMG, improving from a [...]
IG Group sees the positive in French watchdog push back, shortly after UK clamps down on spreadbetting market January 9, 2017 IG Group today offered its support to the French watchdog's latest efforts to clampdown on the spreadbetting market. In a statement, the spreadbetting firm said the latest raft of rules from Autorite des Marches Financiers (AMF) "will provide substantial protection for consumers and greatly improve standards in the sector". AMF recently confirmed new restrictions on electronic marketing of contract [...]
Aldi bags record Christmas sales after a year of store openings January 9, 2017 Aldi boosted its Christmas sales in 2016 after a bumper year of store openings. The discount supermarket opened seventy new stores throughout the year, leading it to 15 per cent year-on-year sales growth in December – its highest growth since landing in the UK in 1990. Aldi did not disclose its like-for-like sales growth for the [...]
Jaguar Land Rover roars to record year globally as Jaguar sales rocket 77 per cent January 9, 2017 Jaguar Land Rover is purring. The UK's largest car manufacturer just had a record year, announcing global sales of 583,313 vehicles, as it sold more than one car every minute. Sales have almost tripled since 2009. It marks the firm's seventh consecutive year of growth in sales, and the total number of 583,313 vehicles was up 20 [...]
Sports Direct may sell famous brands in bid to become more upmarket January 8, 2017 Sports Direct is looking into selling several of its brands as part of its bid to become the “Selfridges of Sports”. Founder Mike Ashley’s mission to turn the company’s standing around and to make Sports Direct more upmarket has reportedly progressed to ditching brands no longer deemed relevant to the UK market. According to sources, [...]
Online retailers including Asos and Boohoo set to be the winners of the festive season January 8, 2017 Retailers with a strong online offering are set to be some of the biggest winners of the festive season's trading, with analysts pencilling in sales jumps for Asos and Boohoo of 30 per cent and 46 per cent respectively. The City had been fearful that the festive period was a bloodbath for retailers after Next [...]
All eyes on M&S clothing – and its chief executive Steve Rowe – as the retailer unveils its latest results collection later this week January 8, 2017 Marks & Spencer's beleaguered clothing division could finally be on the up, with sales growth expected by some analysts when the high street behemoth reveals its third quarter results this week. On 12 January, M&S will reveal its third quarter to 31 December. Analysts are on average forecasting like-for-like sales growth in its clothing and home [...]
Solid fare expected from the UK’s listed supermarkets this week, including Tesco and Morrison’s, as a raft of retailers reveal their seasonal sales results January 8, 2017 The UK's three major listed supermarkets are expected to report solid Christmas trading this week, although investor focus will be on the outlook given this year's expected squeeze on consumer spending. On 10 January, Morrison's is expected to report underlying sales growth of 1.1 per cent for the nine weeks to 1 January according to [...]
Private equity firm 3i mulls sale of retailer Hobbs for as much as £80m January 8, 2017 It could be a busy New Year for 3i. City A.M. understands the British private equity firm is looking to sell clothing brand Hobbs, which it has owned since 2004, for as much as £80m, with investment bank Rothschild being lined up to handle the auction. 3i declined to comment. The retailer undertook a strategic review of the [...]
Gear4music’s quarterly sales are up 55 per cent from the previous year January 6, 2017 Britain's largest online retailer of musical instruments said full-year profit will be ahead of expectations as sales took a huge leap in the last quarter. Gear4music reported a total sales increase of 55 per cent on the same period in the previous year, rising to £24.4m, from £15.7m in the four months to the end of December. Shares [...]