The Mog effect? Sainsbury’s share price climbs as grocer outperforms Tesco, Asda and Morrisons as Kantar supermarket figures December 15, 2015 Could it be the Mog effect? Sainsbury's has beaten Tesco, Asda and Morrisons to become the best performing supermarket among the Big Four. In fact, Kantar Worldpanel figures show that Sainsbury's was the only grocer among the top spots to post a growth in sales for the 12 weeks to 6 December, up 1.2 per cent. Tesco and Asda had [...]
Bad news for miners but good news if you want to go jewellery shopping for a ring, diamond prices are down 28 per cent according to Moody’s December 14, 2015 Diamond prices are set to fall further, as low consumer demand continues to put pressure on miners, according to Moody’s research. The price of rough diamonds dropped 18 per cent in the first 11 months of 2015, and are now down 28 per cent from their peak in the summer of 2014. Prices are now at a three [...]
Shoe fits for Cinven as it takes home Kurt Geiger December 14, 2015 Kurt Geiger is changing hands for the third time in four years after being snapped up by private equity group Cinven. The group’s management and its backers Sycamore Partners have sold the 52 year-old footwear chain to Cinven in a deal thought to be worth around £250m. The sale is the latest in a string [...]
Amazon pulls hoverboards from sale over safety fears December 14, 2015 Amazon has reportedly pulled hoverboards from sale on its site, over safety concerns. The online retailer has asked sellers of the gadget to prove they conform with safety standards in a bid to weed out fakes which could be dangerous, the Verge reported. A search on Amazon UK shows there are none for sale, only accessories. Amazon had not responded [...]
FTSE 100 hopes for Santa rally after week of decline -London Report December 14, 2015 This week the market is looking to put aside last week’s pain, which saw the FTSE dip below the 6,000 mark again, as it prepares itself for a much heralded interest rate rise from the US Federal Reserve. Don’t bet on anything other than volatility, however, with markets already nervous about what surprises a change [...]
How Christmas bonuses can turn into a festive disaster December 14, 2015 As we gallop, reindeer like, towards Christmas, thoughts will be turning to the gesture of “measured generosity” that is the discretionary Christmas bonus. It should be uncontroversial: a mark of appreciation that will help staff pay for their retail pleasures over the festive season. If employers get it wrong, however, they could face expensive claims from [...]
High street suffers Black Friday blues as footfall slumps in November December 14, 2015 UK high streets suffered a massive slump in footfall in November as shoppers abandoned the high street in favour of bagging a Black Friday bargain online. The number of visitors making shopping trips to their local high streets, retail parks and shopping centres fell by 2.1 per cent year-on-year. This was significantly below the 0.2 per cent fall [...]
Waitrose targets 1,500 new jobs as part of store expansion plans December 13, 2015 Waitrose is ramping up its expansion with plans to launch 14 stores from the spring of next year, creating 1,500 jobs. The upmarket grocer said the new openings will include five supermarkets in towns such as Truro in Cornwall and Worcester in the Midlands. They also comprise of nine new little Waitrose convenience shops, one of [...]
Shopping in London: This weekend is going to be the busiest day in the West End for Christmas present buying December 11, 2015 Planning to go shopping in London this weekend? You're not the only one. In fact, retailers in the West End are preparing themselves for the busiest Christmas gift-buying weekend of the year. Shoppers are expected to spend £120m in the next two days – comparable to the £200m spent over the three days of Black [...]
US retail sales increase expectations for an interest rate rise from the US Federal Reserve December 11, 2015 US retail sales rose strongly in November as the Christmas shopping season got under way, heightening expectations that the US Federal Reserve will raise interest rates for the first time in nearly 10 years next year. The Commerce Department said on Friday retail sales excluding automobiles, gasoline, building materials and food services rose 0.6 per [...]