Morrisons takes £30m swipe at supermarket rival Asda…by improving staff tea areas February 18, 2016 The gloves have come off in the latest supermarket fight. Morrisons has announced it will splash out £30m on improving staff rest areas – at a time when it says Asda is doing the exact opposite. The retailer said the four year makeover will see dated decor and furniture thrown out and replaced with new [...]
European grocery prices rise at slowest pace in five years February 18, 2016 The price of everyday products sold across Europe is rising at its slowest pace in well over five years as fierce competition among the grocers rages on, according to the latest data by research giant Nielsen. The data firm said that sales volumes of fast-moving consumer goods (FMCG), such as soft drinks, toiletries and food, rose by 0.8 per [...]
Company voluntary arrangements and pre-packs harm landlords, suppliers and staff: Something has to change February 17, 2016 With Brantano being put into administration by Alteri and then bought back shortly after (minus key outstanding debts) by – you guessed it – Alteri, it is clear that legislation is required to avoid further misuse of a financial instrument that was originally intended to help retailers through a difficult time – not a mechanism for [...]
US recession risks are rising, so where does that leave the Federal Reserve? February 17, 2016 Since the Federal Reserve in the United States raised interest rates in December (albeit by a very modest 0.25 per cent), concerns have been mounting that the momentum of the US economy is fading, and that the US is in fact facing recession in 2016. What is clear from recent data releases is that the [...]
Johnston Press boss Ashley Highfield on the i, Lebedev and the future of print media February 17, 2016 It wasn't easy to second guess his opposite number during negotiations for the purchase of the i newspaper, Johnston Press chief executive Ashley Highfield has told City A.M. Speaking about the regional publishing group’s £24.4m acquisition from ESI Media last week, Highfield described it as a “unique” experience with its own particular challenges. “You’re dealing with [...]
Sluggish holiday sales pull Build-A-Bear Workshop’s performance down for fourth quarter and curb revenues for fiscal year but share price rises February 16, 2016 Share price in Build-A-Bear Workshop rose despite the company announcing a fall in sales throughout the holiday season in its most recent results today. The retailer reported adjusted net income of $19.6m (£13.7m) for its fiscal year 2015, up from $17.4m for its fiscal year 2014, although total revenue dropped to $377.7m, compared to $392.4m the year before. The company's results [...]
Death of the high street? Don’t be so sure – bricks and mortar shopping still matters February 15, 2016 The ‘death of the high street’ has been a favoured headline for years now, but is yet to actually materialise. Online is certainly growing – on that we can all agree – but we shouldn’t be too hasty in declaring that this is at the expense of everything else. Indeed, new data today from the British Retail [...]
Hammerson goes halves with Canadian pension fund over Birmingham’s Grand Central shopping centre as profits jump February 15, 2016 Retail landlord Hammerson has struck a deal to sell half of Grand Central shopping centre in Birmingham to one of Canada's biggest pension funds, as it reported a jump in full-year profits. The FTSE 100 company, which already owns Birmingham's other well-known shopping centre, The Bullring, bought Grand Central last month for £335m from Birmingham City [...]
Aldi to open 80 stores and create 5,000 jobs in the UK this year February 15, 2016 Disruptive German supermarket Aldi will open 80 new stores in the UK this year, creating 5,000 jobs in the UK, it said this morning. The plans will take the supermarket's estate to 700 outlets in the UK, it said in a statement this morning. A spokesman for the retailer said the stores will be "right across the [...]
Retail footfall bounces back in January to reach two-year high February 15, 2016 Retailers enjoyed their biggest jump in footfall last month in almost two years after disappointing Christmas when shoppers shunned the high street in favour of buying online. Traffic to stores on the high street, shopping centres and retail parks rose by 1.2 per cent in January compared with a year ago, figures from retail analysts Springboard [...]