Discounting drives biggest online sales growth in 20 months in July as retailers scrap with Amazon over customers August 17, 2016 Online sales growth hit a 20-month high in July as summer discounts convinced internet shoppers to click to the checkout. Growth in July was 19 per cent year-on-year as the value for the average basket of goods fell from £80.52 in June to £78.39 last month, according to data from IMRG and Capgemini. Home and [...]
Target cuts its profit forecast as sales for electrical goods falter August 17, 2016 Retail group Target cut its profit outlook yesterday after its quarterly sales fell by more than expected. The sales drop was due to a weakened demand for electronics and a disappointing performance for its grocery business. The company said like-for-like sales in the second half of the year would be between flat and minus two [...]
Steady year for Laura Ashley as online sales flourish August 17, 2016 Retailer Laura Ashley released steady results after a challenging year that has seen its stock lose a third of its value. The figures The current period was 74 weeks to 30 June 2016 compared to a 52 week prior period to 31 January 2015. Revenue stood at £172m, meaning that the run-rate was broadly in line with the £129m in the [...]
Sorry supermarkets, grocery spending in Europe is growing at its slowest pace ever August 17, 2016 Consumer spending at supermarkets grew at its slowest pace in eight years – a historical low – as the price wars continue to take a toll, new figures reveal. The money making its way through supermarkets' tills grew by just 0.8 per cent across Europe in the second quarter of the year compared to the same period in 2015, [...]
Urban Outfitters jumps after posting surprise sales rise August 16, 2016 Shares in Urban Outfitters jumped nearly 10 per cent in after-hours trading on a better-than-expected set of quarterly results. The retailer, a favourite with hipsters, reported comparable sales rose one per cent in the three months ended 31 July. This smashed analysts' expectations for a fall of 1.2 per cent, according to research firm Consensus [...]
US housing market lifts profits at DIY giant Home Depot August 16, 2016 The strong US housing market lifted second quarter sales and profits at the world’s largest DIY retailer, Home Depot. The figures Reported sales were up 6.6 per cent to $26.5bn (£20.5bn), while comparable stores sales rose 4.7 per cent in the three-month period, marginally below a Wall Street estimate of 4.8 per cent. Home Depot operates [...]
Morrisons has finally sold its stake in Fresh Direct August 16, 2016 Morrisons has disposed of its 10 per cent stake in wholesale business Fresh Direct, it said today – almost 18 months since it first announced plans for the selloff. The supermarket said today it had got £45m from the sale – a premium of £14m to the £31m holding value of its equity investment. Morrisons said [...]
Belgian pharma firm boosted by US judge ruling August 16, 2016 Shares in Brussels-based drugmaker UCB surged yesterday following a US ruling that blocks rival firms from making generic versions of its epilepsy drug Vimpat. Shares closed up by almost nine per cent in Brussels – its best performance since 2009 – and also giving a shot in the arm to other pharmaceutical stocks around Europe. [...]
H&M announces 10 per cent sales increase for July August 15, 2016 H&M announced today that sales increased by 10 per cent in local currencies during July 2016 as compared to the same month last year. The company's shares were up 2.14 per cent in afternoon trading to SKr277.30. The fashion retailer, which targets young people globally, was struggling earlier this year due to the strength of the dollar. Its [...]
Wealth managers and IFAs are looking to wine investments as a post-Brexit safe haven August 15, 2016 A rise in demand for asset diversification and safe havens could drive an increased appetite for wine investments in the next 12 months following the UK’s Brexit vote. More than a quarter of wealth managers and independent financial advisers (IFAs) believe demand will increase over the next year, according to research among 101 intermediaries by [...]