Before the bell: What you need to know before the US market open May 10, 2016 Stock futures in the US are up on the back of a good day in Asia and a strong start across Europe. The S&P is up by 0.34 per cent, while the Nasdaq is up by 2.5 per cent. The Dow has added 0.35 per cent in the pre-market. The day's big news so far Germany's current [...]
Online sales hit the brakes: Digital channel suffers slow growth in April May 10, 2016 Online retail sales growth has slumped to its lowest level in three years, piling pressure on retailers already hard hit by a customer retreat from the high street. Year-on-year online sales were up by just 6.6 per cent in April, more than halving the 15.4 per cent growth recorded in April 2015, the British Retail [...]
Live: Pensions lifeboat says that it had concerns about the BHS pension scheme in 2012 May 9, 2016 The BHS' pension scheme was on the Pension Protection Fund's (PPF) radar as far back as in 2012, MPs were told today. Alan Rubenstein, chief executive of the PPF, also explained to a committee hearing that the scheme had a 23-year recovery plan at that point, which is significantly longer than would usually be allowed. Lesley Titcomb, [...]
Greggs’ roll goes soft as high street weakens May 9, 2016 Sales at baking chain Greggs have softened in the first 18 weeks of the year, reflecting the high street environment, as it enters consultation on three bakeries. The figures Total sales were up 5.7 per cent in the 18 weeks to 7 May – a slight deceleration on last year's 5.9 per cent growth – [...]
Marketing in the age of Instagram: Olapic’s Jose de Cabo talks visual marketing, the future of earned content and what’s so special about the colour blue May 9, 2016 "Brands are not what marketers say they are anymore. They’re what consumers say they are,” says Jose de Cabo, co-founder of visual marketing platform Olapic. “User-generated content performs better than brand assets because it is more authentic.” Launched just as Instagram was starting out, Olapic uses software to root out hashtagged photos and videos from [...]
Sports Direct in surprise Austin Reed bid May 8, 2016 Sports Direct’s Mike Ashley is thought to have thrown his hat in the ring for menswear retailer Austin Reed. It is understood that Ashley has tabled a surprise £30m bid for Austin Reed which went into administration at the end of last month. Administrators Alix Partners are thought to have received around 50 expressions of [...]
Netflix and kill: Digital movie sales overtake DVDs for the first time May 6, 2016 It's official: the DVD is dead. Ok, not quite yet, but we're about to pass a milestone that puts ye olde digital versatile disc firmly in the rear view mirror as the world drives towards a future filled with film streaming. Call it the Netflix effect, but consumers in Britain will spend more of their cash on streaming and downloading films and [...]
Retailers rocked by sales shocker May 6, 2016 The high street has suffered its sharpest drop in sales since the credit crunch as retailers battle erratic weather, increasing competition from online rivals and jittery consumer confidence. Like-for-like sales fell by 6.1 per cent in April compared with the same month last year, according to BDO’s latest monthly tracker, published this morning. The accountancy [...]
Portmeirion buys candle maker Wax Lyrical for £17.5m May 5, 2016 Portmeirion, the owner of Spode and Royal Worcester has bought candles to go with its tableware after snapping up Wax Lyrical for £17.5m. The Aim-listed firm said it has acquired the entire share capital of Lighthouse Holdings, the parent company of the Lake District business and the UK's biggest manufacturer of home fragrances. Wax Lyrical is both [...]
Carry on shopping: Alibaba defies China slowdown with fourth quarter revenue May 5, 2016 Alibaba, the Chinese ecommerce giant, has defied the country's economic slowdown, reporting expectation-busting revenue. The Amazon of China's sales rose 39 per cent in the fourth quarter to 24.2bn yuan (£2.55bn) smashing estimates of around 23bn yuan, while income came in at 5.3bn yuan, a rise of 81 per cent. "Whatever they are doing must be working, and [...]