Before the bell: What you need to know before the US market open June 14, 2016 Brexit fears are dragging down markets and Germany's 10-year bond yield has turned negative. Here's what you need to know before the market open at 14:30 London time. US futures are pointing down again today, suggesting the bad start to the week is going to continue. The S&P is off by 0.22 per cent. The Nasdaq is 0.26 [...]
Ted Baker’s online strategy is paying off as high-street footfall falters June 14, 2016 Ted Baker celebrated an impressive revenue growth today after a year of expansion in e-commerce. The figures In its trading update this morning, Ted Baker reported an 11.3 per cent increase in revenue for the 19 weeks between 31 January and 11 June 2016. Compared to the same period last year, retail sales were up [...]
Before the bell: What you need to know before the US market open June 13, 2016 China's decelerating economy is causing fresh concern across international markets and the International Monetary Fund isn't helping. Here's what you need to know before the US market opens at 14:30 London time. The US market is pointing heavily south ahead of the open. The S&P 500 is down by 0.31 per cent in the pre-market. The Nasdaq [...]
Asda swaps Clarke for Clarke as chief exec says he’ll step down next month June 13, 2016 Well, that was sudden: we knew Asda chief executive Andy Clarke was planning on going – but now the supermarket's owner has said Clarke will step down next month. In a statement this morning Asda confirmed reports Clarke, who has been at the company for more than 20 years – six of which have been [...]
Week ahead: Investors watch BoE and sterling as EU vote nears June 13, 2016 Brexit braying and the Bank of England’s interest rate decision will be closely followed by investors this week. Ahead of the BoE’s announcement on Thursday we’ll hear from the US Federal reserve, and though markets are not expecting a move from either, investors will be paying close attention to the language used by policy makers. [...]
Poundland faces profit plunge after delayed takeover of 99p Stores last September June 12, 2016 Discount retailer Poundland might need a few quid as it braces for a plunge in profits this week. The company’s full-year results have been dragged down by its delayed takeover of high-street rival 99p Stores. Earnings per share are forecast to fall almost 43 per cent, from 15.01p to 8.58p per share, when the company [...]
Walmart’s China boss Sean Clarke set to become Asda’s next CEO June 12, 2016 Walmart is set to name Sean Clarke, the retailer's boss of its Chinese operations, as Asda's new CEO. The Big Four supermarket chain's parent company could make an announcement as early as this week, Sky News reported. The news comes after current boss Andy Clarke confirmed in an interview with Retail week last week that he's going to [...]
Walmart Canada to stop accepting Visa payments from July over “unacceptably high” fees June 12, 2016 Walmart's Canadian arm has said it will no longer accept Visa cards in its stores after the retail giant failed to reach a deal with the company over its "unacceptably high" fees. Following an evaluation of credit card transaction fees in both Canada and the rest of the world, the charges applied to Visa transactions [...]
Sports Direct’s Mike Ashley steps in for eleventh hour BHS chats June 12, 2016 Sports Direct's Mike Ashley is trying to reopen talks to save BHS from liquidation. A source told City A.M. that Ashley had written to the administrators in a bid to reopen a dialogue in a move that could save a number of stores along with the BHS name. City A.M. also understands that the administrators will be [...]
Sainsbury’s: We’re the biggest vinyl record seller. HMV: Er, no you’re not June 11, 2016 Woof. HMV has barked back at Sainsbury’s over the supermarket's claim to be the UK’s biggest high street retailer for vinyl records. The music shop has claimed it has more than four times the market share of Sainsbury’s. It did concede, though, that “we don’t sell nearly as many teabags as Sainsbury’s”. Sainsbury’s responded by conceding that [...]