National Living Wage: Lidl and Morrisons have boosted perception by adopting salary rises ahead of time October 7, 2015 From a reluctant starting point, British retailers are now falling over themselves to make the most of Living Wage goodwill, announcing wage rises ahead of next year's obligatory rise. Initially there was much gnashing of teeth over George Osborne's ruling that firms must pay staff above the £7.20 minimum for over-25s from April. Wetherspoon's founder [...]
Now you can buy gold in kilo bars from Royal Mint – and these are the top 10 countries investing in bullion October 7, 2015 The Royal Mint is hoping to attract gold buyers with deeper pockets with the launch of a new kilo bullion bar. Since setting up shop online a year ago with a trading platform that allows retail investors to buy precious metals from as little as £20, sales of gold have increased by more than 50 [...]
Tesco first half results: Analysts question whether “Drastic Dave” Lewis has been drastic enough October 7, 2015 Tesco may have beaten expectations for UK sales in the first half of this year, but analysts are warning that the troubled supermarket still has a long way to go if it is to shrug off the many problems facing the UK's biggest retailer. Tesco's profits fell 55 per cent in the six months to 31 [...]
Food prices drop ahead of supermarkets’ pre-Christmas battle – Nielsen and BRC October 7, 2015 Food prices fell back into deflation in September, industry figures released today show, as the supermarkets prepare to battle it out for customer’s wallets in the run-up to Christmas. Nielsen and the British Retail Consortium (BRC)’s latest monthly index said food saw annual deflation for the first time in three months, falling sharply to [...]
The new pension freedoms are transforming asset management October 6, 2015 The pensions freedom and choice agenda, announced at Budget 2014 and implemented in April this year, took fund managers by as much surprise as insurers. Eighteen months on, what can we see happening in the asset management world, as investment houses digest the implications? The biggest change in the new agenda was the final [...]
Sir Philip Green-backed flash sales website MySale buys three online retail firms in Australia October 6, 2015 Flash sales website MySale said yesterday it has bought three retail sites in Australia from Grays eCommerce group for AU$5.2m (£2.4m). The UK-listed company, which is backed by Sir Philip Green, said the deal was a great opportunity to grow its customer base in Australia, where MySale first launched in 2007. The three sites – [...]
Government to release “at least” £2bn-worth of Lloyds shares to retail investors October 6, 2015 Retail investors will be able to get their hands on "at least" £2bn-worth of Lloyds Banking Group shares, the government confirmed today. The shares are being offered a discount of five per cent of market price, and those who keep their holding for more than a year will receive a bonus share for every [...]
Tesco boss Dave Lewis pledges to simplify relationship with suppliers October 6, 2015 Tesco boss Dave Lewis has pledged to simplify the way the supermarket does business with suppliers as part of his efforts to change the behaviour at the group in the wake of its accounting scandal last year. Speaking at the IGD conference in Westminster this afternoon, Lewis announced plans to speed up payments so its [...]
Greggs share price jumps as baker ups full year expectations October 6, 2015 Greggs' share price jumped this morning on the back of results out this morning showing the baked goods retailer is on a (sausage) roll. The figures Greggs' own shop like-for-likes climbed 4.9 per cent for the 13 weeks to 3 October, with total sales up five per cent. Year-to-date own shop sales are up [...]
Ted Baker share price dips on warning over washout August October 6, 2015 Shares in Ted Baker were decidedly passé with investors this morning after a warning over softer trading in August overshadowed a 15 per cent leap in first half pre-tax profits. The fashion retailer, which has 416 stores, concessions and outlets across the world, said sales in August were hit by a number of “external factors”, including [...]