Stars align for shoppers: Experts predict a consumer boom amid low inflation and cheap energy October 6, 2015 All the ingredients for a consumer boom are appearing, experts say, as turbulence in Asia keeps commodity prices and inflation down. Oil prices remain low amid global oversupply and market worries about slowing demand in China. Meanwhile, Beijing’s devaluation of the yuan means lower inflation – in the form of cheaper goods from China [...]
Lloyds privatisation: 62,500 register for Lloyds shares on first day October 6, 2015 It turns out George Osborne's announcement yesterday that the government will make "at least" £2bn of Lloyds shares available sent retail investors into a frenzy: 62,500 have registered their intention to buy shares in the bank, Treasury sources have suggested. In contrast to the Royal Mail privatisation in 2013, where institutional investors were prioritised, yesterday the chancellor [...]
American Apparel files for bankruptcy to cut down debts October 5, 2015 US clothing retailer American Apparel has filed for bankruptcy protection as it attempts to shake-off its debt-pile and rebuild its reputation following a series of scandals relating to founder and former chief executive Dov Charney. The teen-focused chain, known for overpriced jersey basics and risque advertising, said it has struck a deal with 95 per [...]
Losses widen at shirt-maker Austin Reed October 5, 2015 Losses at Austin Reed widened last year after a torrid trading period that resulted in the retailer closing 31 stores to pay down debts. The 114-year-old tailor, which counts International Monetary Fund chief Christine Lagarde among its customers, posted a £5.4m loss in the year to 31 January, compared with a £1.3m loss the previous [...]
High street chain River Island in fashion as sales and profits soar October 5, 2015 River Island saw profits jump by almost 70 per cent last year, boosted by the rise in mobile shopping and recent collaborations with popular celebrities such as Rihanna. The fashion chain, which is privately owned by the Lewis family, reported pre-tax profits of £149.1m in 2014 compared with £88m the previous year. Sales increased by [...]
Owning the digital space October 4, 2015 William Railton talks mobile and the future of outdoor ads, with BitPoster’s Aidan Neill FROM billboards to bus stops, the outdoor media market has been more reluctant than other areas of the marketing industry to embrace digitisation. The buying and selling of advertising space had been largely a manual process, with a lot of wasted [...]
Tesco first half results: Three things to expect from half-year interims and Dave Lewis on Wednesday October 4, 2015 Tesco is due to reveal first half results on Wednesday, and just over a year on from the supermarket shocking the City with a quarter of a billion-pound black hole in its financials, all eyes are on how far through it really is in turning things around. With a bulging balance sheet and market share [...]
Enter the 5p carrier bag: The environment and charity ruse that will make your life harder October 1, 2015 On Monday, it will become law for all large retailers to charge 5p for plastic bags, and give the proceeds to charity. This act has been greeted with heady acclaim. “Hold on to the dream!”, celebrates green columnist Lucy Siegle, imagining a transformation of the world economy and the saving of marine wildlife. Defra talks [...]
Tesco in talks to sell 10 more supermarket development sites to Meyer Bergman October 1, 2015 Tesco is in talks to sell a large chunk of its UK land portfolio, as the supermarket looks to raise funds to bolster its battered balance sheet and pay down debt. The company is understood to be in advanced discussions to sell 10 development sites to European investment giant Meyer Bergman for about £250m. The [...]
Sainsbury’s and Glencore give FTSE 100 a three-digit lift – London Report October 1, 2015 The FTSE 100 enjoyed strong gains yesterday, helped by Sainsbury’s after the supermarket group lifted its full-year profit outlook. The blue-chip index climbed 152.37 points, or 2.6 per cent, to close at 6,061.61. Despite reporting a seventh straight quarter of falling sales, Sainsbury’s shares soared 13.8 per cent. Other supermarkets were also lifted, with Morrisons [...]