Energy shares drop but Cisco helps market – New York Report August 13, 2015 US STOCKS finished flat yesterday as a drop in energy shares offset a rebound in retail sales and stronger-than-expected Cisco results. The Dow Jones industrial average rose 5.74 points, or 0.03 per cent, to 17,408.25, the S&P 500 lost 2.66 points, or 0.13 per cent, to 2,083.39 and the Nasdaq Composite dropped 10.83 points, or [...]
Pop-up revolution? The pop-up economy is now worth £2.3bn August 13, 2015 The trend for pop-ups, whether that be shops, bars, cinemas or even beaches, may leave some people rolling their eyes, but their success is adding billions to the UK economy. Revenues in the pop-up retail sector grew at 12.3 per cent last year, meaning it's now worth £2.3bn annually, up on £2.1bn last year, and employs [...]
Marks & Spencer’s share price tumbles as womenswear boss Frances Russell leaves August 13, 2015 Marks & Spencer's share price has fallen by almost two per cent this morning on the news of yet another shake-up at the troubled high street chain that will see its womenswear boss Frances Russell step down. Russell, who has led the womenswear business for three years, will be replaced by M&S’s lingerie boss [...]
Best of the Brokers for 13 August 2015 August 13, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com AO WORLD Numis reiterated its “buy” recommendation on the online retailer. Despite a recent slowdown in UK sales growth, the broker said it expects UK revenue growth to accelerate over the next year. The broker also said: “We continue to believe that AO [...]
Sofa chain SCS keeps shareholders comfortable after pick-up in sales August 13, 2015 SOFA chain SCS hailed an improvement in sales in the last three months of a difficult year hampered by warm weather and the uncertainty in the run-up to the 7 May General Election. The retailer, which floated on the London stock market earlier this year, said total like-for-like sales for the year to 25 July [...]
Sainsbury’s TU clothing website goes national August 13, 2015 Sainsbury’s has launched its TU clothing website across the UK for the first time today, as it seeks to challenge high street rivals and bolster its position in fashion. The supermarket chain, which has been trialling its online service since August last year, said its TU womenswear, menswear and childrenswear are now available for next [...]
Alibaba share price plummets on disappointing revenue figures August 12, 2015 Alibaba's share price is set for a continued slump after its revenue and sales growth came in weaker than expected in the first quarter. The figures The Chinese e-commerce company's stock opened over seven per cent down on the New York Stock Exchange this morning after it reported a 28 per cent increase in revenue [...]
Card Factory set to return cash to investors as new stores boost sales August 12, 2015 Budget greetings card chain Card Factory announced yesterday that it plans to return cash to shareholders after the opening of new stores and a relaunch of its website helped boost sales in the first half. The Wakefield-based retailer said total sales grew by eight per cent in the six months to 31 July thanks to [...]
Game Digital puts profit warning behind it despite slowdown in console sales August 11, 2015 It has been almost two years since the launch of Sony’s latest console, the PlayStation 4 (PS4) and Microsoft’s Xbox One and after the initial sale frenzy, demand is now cooling, according to Game Digital. The video games retailer said revenues at its hardware division were hit by a near 20 per cent drop in [...]
New Look to launch menswear-only stores August 11, 2015 Fast fashion retailer New Look is to launch its own standalone menswear stores in the UK, with the first five branches expected to be open by the end of the current financial year. The retailer, which is in the middle of a turnaround under chief executive Anders Kristiansen, has been dipping its toe in [...]