Asda records ninth consecutive quarterly sales drop November 17, 2016 Asda has reported yet another sizeable drop in sales. The struggling retailer has posted a like-for-like sales drop of 5.8 per cent in the three months to the end of September. This is the the ninth quarterly fall in sales in a row for the company which is suffering due to intense price competition from discount [...]
Staples to disappear from the UK high street November 17, 2016 The Staples brand will disappear from UK high streets over the coming months. The sale of the UK arm of Staples to restructuring business Hilco Capital puts the future of around 1,100 staff working in 106 stores across the country into question. Staples, Inc. has sold its UK retail business for a "nominal" amount while the company focuses on [...]
Retail sales defied expectations amid Brexit fears in October as prices fell everywhere except petrol stations November 17, 2016 UK retail sales grew at their highest rate since April 2002, amid fears that spending could be hampered by uncertainty around Brexit. The volume of retail sales increased by 7.3 per cent in October, compared to the same month in 2015, while the amount spend rose 6.6 per cent on an annual basis, according to [...]
Weak sterling will push up the price of wine and there’s nothing anyone can do about it, Majestic’s chief executive has warned November 17, 2016 First it came for our Marmite. Then it came for our Toblerones. Now, weak sterling is pushing up the price of wine, the chief executive of one of the UK's largest booze retailers has warned. Rowan Gormley, the boss of Majestic Wine, said consumers can expect wine everywhere to go up in price – "until we grow [...]
The government’s decision to cancel a retail offering of Lloyds shares is an outrage November 16, 2016 Lloyds Banking Group will bring up mixed emotions for the British public. On the one hand, it still represents a symbol of the financial crisis, and the subsequent pain and aftershocks that brought for Britain. On the other, it is a household name, present on our high streets and safely nestled on the FTSE 100. [...]
Deliveroo teams up with Heineken to create new booze delivery brand November 16, 2016 Deliveroo has announced a new partnership with Heineken which will see the two launch a new brand, Brew House, through which customers will be able to order beer and cider directly to their homes. Brew House launches in London today, and will be rolled out across the rest of the UK by the end of this year, [...]
Prudential aiming to grow dividend by five per cent as insurer sees no surprises in third quarter trading November 16, 2016 Prudential is aiming to grow its dividend by five per cent per annum, the insurer said today, as it prepared to host its capital markets day in central London. The company said it would "maintain its focus on delivering a growing ordinary dividend", and added that: "The potential for additional distributions will continue to be [...]
Tesco Bank’s perception goes into the red after security breach November 16, 2016 Last week, news broke of a security breach which compromised the accounts of Tesco Bank customers. It was reported that £2.5m had been stolen from 9,000 customer accounts, with the worst affected losing up to £1,500. In the immediate aftermath, the company suspended online and contactless transactions. YouGov brand tracking data shows us how the [...]
High-street retailers are struggling to meet the demands of tech-savvy consumers November 16, 2016 Black Friday marks the start of the UK's busiest shopping period of the year, and research shows retailers aren't doing enough to improve their customers' in-store experiences. Among the biggest irritations to shoppers are crowded shops (45 per cent), checkout queues (42 per cent) and long waits for fitting rooms (29 per cent). Almost two thirds [...]
Black Friday 2016 deals: Four pairs of wireless headphones Amazon has in its Black Friday sale today November 15, 2016 It's day two of Amazon's 12-day Black Friday bonanza, and today the retailer has gone berserk for wireless headphones. If you're an Apple fan with a hankering for an iPhone 7 – sensationally unveiled in September sans headphone jack – take a look at today's deals: 1. Yeona Wireless Bluetooth stereo headphones – 55 per cent off Not [...]