Burberry share price down as retailer needs “accelerated actions” to keep profits steady against Chinese slowdown October 15, 2015 Burberry shares fell 11 per cent in morning trading as the company warned of deeper and quicker costs to keep profits on track, against falling demand in China and Hong Kong. The figures Overall, Burberry’s retail sales ticked up by two per cent, despite what the company is calling an “increasingly difficult” environment for luxury, to [...]
Wall St slips on Wal-Mart and JP Morgan – New York Report October 14, 2015 A SLIP by Wal-Mart after issuing a weak profit forecast, dragging down other big retailers, and JP Morgan’s disappointing results yesterday led to US stocks falling. The Dow Jones industrial average fell 157.14 points, or 0.92 per cent, to 16,924.75, the S&P 500 lost 9.45 points, or 0.47 per cent, to 1,994.24 and the Nasdaq [...]
Virtually flat US retail sales back case for delaying 2015 Fed interest rate hike, say economists October 14, 2015 US retailers sold $447.7bn (£290.1bn) of goods last month, hardly posting a rise compared with August as falling gasoline prices weighed on revenues at petrol stations. Retail sales climbed by 0.1 per cent on the month in September, according to figures released today by the US Census Bureau. The sales figure also marks a 2.4 per [...]
N Brown share price rises as Simply Be and Jacamo owner says turnaround on track October 14, 2015 Shares in N Brown rallied this morning as the home shopping group said efforts to turnaround the business and draw a line under the past year’s woes were paying off. The catalogue and online retailer, which caters for older and larger shoppers through brands such as Simply Be and Jacamo, posted a 15.9 per cent fall [...]
Bank of America Merrill Lynch reports a $4.5bn profit despite market chaos and low rates October 14, 2015 Bank of America Merrill Lynch (BoAML) reported its net income for the three months to the end of September rose to $4.5bn (£2.9bn), after making a loss of $232m in the same period in 2014. Net income decreased from $5.3bn in the previous quarter, as did diluted earnings per share, which were $0.37, down from $0.45 in [...]
Black Friday 2015 UK predictions: This year’s event is gearing up to be the UK’s first ever £1bn shopping day October 14, 2015 With the mania of Black Friday less than two months away, UK shoppers are getting ready to spend more money than they ever have before in one day. Retailers are braced for the biggest shopping day of the year, after last year’s frenzy shocked many unprepared sellers – and this year sales are set to [...]
Hargreaves Lansdown share price rise as it issues record first quarter results ahead of Lloyds Banking Group share sale October 14, 2015 Hargreaves Lansdown's share price jumped as it released record inflows for the first quarter, and issued a bullish outlook for the financial year ahead, thanks to next spring's Lloyds Banking Group share sell-off. The figures The Bristol-based group attracted a record 47 per cent new business inflows of £1.43bn for the three months to 30 September on the same period last [...]
Black Friday 2015 UK date and deals: The best offers to expect on 27 November, plus who were the winners and losers from last year October 14, 2015 Black Friday is less than seven weeks away – it falls on 27 November this year – and already consumer sites are full of predictions for which deals we'll be falling over ourselves (and other people) to pick up in 2015. We spent £810m last year, with John Lewis celebrating its biggest sales week of [...]
Will Waterstones’ e-books dump be a page-turner? October 14, 2015 Waterstones’ announcement last week that it would stop selling e-readers shows the major bookseller’s resilience in the face of growing online market penetration. The move comes after a few years that have seen the retailer dramatically cut its losses and amid hopes that 2016 is the year it finally returns to the black. [...]
Black Friday 2015 UK: Where and when to get the best discounts is already being hinted at by Tesco, Currys PC World, John Lewis and Amazon October 13, 2015 Brace yourselves: Black Friday is coming. Last year's retail bonanza-cum-bun-fight is back. This year it will be taking place on 27 November, meaning there are less than eight weeks to go. In 2014, it was the biggest single day for online sales of the year, and retailers are falling over themselves to make sure they [...]