Disappearing deliveries cost online shoppers £250m last year as Britons shun leaving packages with neighbours August 15, 2016 Sometimes, it seems, the postman doesn't ring at all. More than 3.6m unlucky online shoppers have been sent a package that has gone missing or not been delivered in the past year, according to figures released today by Direct Line Home Insurance. The disappearing deliveries have cost Britons more than £250m, with the average value of [...]
Drop in supermarkets sales leads to UK plc revenues sliding August 15, 2016 Dwindling supermarket sales have weighed heavily on the performance of UK plc, causing listed companies’ revenues to dip 2.2 per cent to £341.7bn in the last quarter, according to new research from retail stockbroker The Share Centre. Supermarkets, which account for nearly one third of the UK's publicly listed companies, saw sales fall below £100bn [...]
More than 10 per cent of high street stores across the UK now lie vacant August 15, 2016 More than 10 per cent of high street stores across the UK now lie vacant as property costs continue to rise and retailers respond to consumer demand for online alternatives. National town centre vacancy rates rose to 10.1 percent in the third quarter of this year to July, according to new research from the British [...]
Punctured biking market prompts Evans Cycles owner to pump up investment August 14, 2016 Punctured sales in the UK's "difficult" bike market have prompted Evans Cycles' majority shareholder to pump more cash into the chain. ECI Partners, which bought Evans in a deal last year for an undisclosed sum, has "invested additional funds" into April Topco, the company through which it owns Evans, to cut bank debts and provide additional liquidity. [...]
At the close: Sterling loses shine and FTSE 100 goes nowhere August 12, 2016 Markets begun the weekend with a whimper today despite some notable summer data dumps as the FTSE 100 stayed stuck and the pound dropped down. Traders roundly dismissed some worse than expected official construction data which showed the industry entered recession in the second quarter of the year as a little out of date for their [...]
IMF: China faces bumpy road to sustainable growth August 12, 2016 The Chinese authorities face "many challenges" in rebalancing its economy, the International Monetary Fund (IMF) has warned today. Conducting its annual health-check of the world's second largest economy, the IMF said China needed to step up its reforms of the unproductive state owned enterprise (SoE) sector, reform governance rules to promote financial stability and drop [...]
Summer splurge success: Here’s how far JC Penney’s sales increased in the second quarter August 12, 2016 American department store JC Penney announced a sales increase in the second quarter and improved margins. Sales increased by 2.2 per cent; the best performing departments were home, footwear, handbags and the beauty store Sephora. The company was most successful in the Ohio Valley and the Pacific. Gross margin was up 37.1 per cent for the [...]
US dollar fades as retail sales stagnate and send sterling back above $1.30 August 12, 2016 The US dollar has sunk after fresh economic data showed the recovery stumbled in July. Retail sales flat-lined in the world's largest economy in July and factory prices defied expectations to fall into negative territory. The pound climbed back above $1.30, up 0.5 per cent on the day, reversing some of the losses from earlier this [...]
China’s slowdown intensifies with weak summer spending August 12, 2016 China's economic rebalancing hit another speed bump this morning as fresh data came in below expectations. Growth in both the mighty industrial sector and consumer industries slipped back in July, highlighting the extent of China's struggle to maintain its breakneck expansion while also implementing structural reforms. This morning the National Bureau of Statistics said investment in fixed [...]
Macy’s to shutter 15 per cent of US stores as it looks to grow online August 11, 2016 US department store chain Macy’s is to shut around 100 stores – some 15 per cent of its total – as it battles falling foot traffic. The stores slated to be closed represent around four per cent of its declining revenue. Macy’s shares climbed on the news, ending the session up in New York, though are down [...]