Currys PC World prepares for record-breaking sales rush from Christmas Eve to Boxing Day December 24, 2015 Currys PC World is expecting a record number of shoppers to snap up electrical deals between Christmas Eve and Boxing Day. The retailer estimates that 4.9m people will shop online between lunchtime today and 11am Boxing Day. The business, which broke records on Black Friday this year, believes there will be a spike in mobile phone shoppers [...]
Game Digital share price plummets nearly 40 per cent as company issues profit warning December 23, 2015 Game Digital's share price plunged almost 40 per cent after the retailer issued a profit warning this morning. The group revealed a 6.7 per cent drop in group gross transaction value (GTV) to £466.8m for the 21 weeks to 19 December, while UK GTV was down 11.4 per cent to £353.5m, despite a boost from Black [...]
Former Next director Christos Angelides leaves Abercrombie & Fitch as Fran Horowitz moves up December 23, 2015 Christos Angelides has left Abercrombie & Fitch after just over a year at the struggling US fashion label. Angelides, who is credited with being the driving force behind much of Next's success, left the UK high street retailer last autumn to become brand president. While he notched up 28 years at Next, he managed just a year and [...]
Luxury stocks including LVMH, Burberry and Kering have fallen out of favour: These days, it’s all about the stratospheric rise of Greggs’ sausage rolls December 22, 2015 Is this the end of luxury? It's certainly been a tough year for the most luxurious of brands, thanks in part to the slowdown in China, one of the fastest growing consumer markets. Options trader Banc de Binary has tracked the performance of some of the most high-end brands, including Kering, which owns Gucci, Balenciaga and [...]
Best of the Brokers for 22 December 2015 December 22, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com BOOHOO.COM As the end of 2015 approaches, fast-fashion retailer Boohoo will be celebrating its first full year as a listed company, or perhaps taking some time for reflection following a profit warning in January. In its first coverage of the company, Shore Capital [...]
UK consumer confidence ends 2015 on a high December 22, 2015 UK consumer confidence rose in December, rounding off a strong year for shoppers. The monthly consumer confidence index published today by market researchers GfK hit a score of two this month from one in November. Between 2008 and 2014, the index spent most of its time in negative territory. “This is the first time since [...]
UK retailers scramble to rescue Christmas as distress levels rise amid fierce discounting December 22, 2015 High street retailers have suffered a disappointing Christmas so far this year amid fierce competition and the rise of online, Begbies Traynor has warned, with retailers now pinning their hopes on a last-minute sales spree this week. According to the insolvency specialist's latest Red Flag research, which monitors the health of UK companies, the number of retailers now suffering [...]
City Moves for 22 December 2015 | Who’s switching jobs December 21, 2015 PETS AT HOME Graeme Jenkins has been appointed as chief financial officer at Pets at Home. Graeme will become an executive director and member of the board, upon his commencement date, which will be announced in due course. Ian Kellett, the current group CFO, will transition fully into the role of chief executive officer of [...]
Eurozone consumer confidence edges up in December December 21, 2015 Consumer confidence in the Eurozone ticked up this month, according to figures released today. The flash consumer confidence indicator compiled by Eurostat, the statistical office of the European Union, climbed 0.2 points to a score of minus 5.7. Flash data is an estimate based on a The rise builds on November's surge and shows consumers are more confident [...]
CBI Distributive Trades Survey: The run-up to Christmas has been less than merry for disappointed retailers December 21, 2015 Sales growth in the run-up to Christmas has been below retailers' expectations, new figures have shown – despite being above average for the time of years. The Confederation of British Industry's (CBI) Distributive Trades Survey showed 43 per cent of retailers said sales volumes in December were up on the same period last year, against [...]