Grocers’ price wars weigh on July retail sales August 11, 2015 RETAIL sales slowed in July from the previous month’s two-year high as the fierce supermarket price wars continued to weigh on the sector. Figures from the British Retail Consortium (BRC) and KPMG this morning show that like-for-like UK retail sales were up 1.2 per cent in July compared with the same month last year, when [...]
Sales of video games help boost dwindling entertainment market August 10, 2015 CONSUMERS still buying video games on the high street helped provide a welcome boost to the physical entertainment market in the last quarter and stem the rate of decline. Figures released yesterday by Kantar Worldpanel show that the physical entertainment market – sales of CDs, DVDs and games – shrank by three per cent in [...]
E-commerce giant Alibaba invests £2.97bn in Suning as global mergers and acquisitions hit new high August 10, 2015 Alibaba’s announcement it would be investing £2.97bn in a 20 per cent stake in retail giant Suning marks the Chinese e-commerce giant’s biggest acquisition ever. The global deal bonanza continues upwards. With global M&A recently hitting a post-downturn high, Alibaba’s record deal came just hours after Warren Buffett confirmed a record $37bn deal as his [...]
Decline of physical entertainment market slows – but DVD, CD and video game sales still slide August 10, 2015 Things seemed to be looking up for physical entertainment market. Although fewer people are buying video games, CDs and DVDs, the rate of decline has slowed in the last quarter, while several major retailers even recorded an increase in sales. Figures released this morning by Kantar Worldpanel show that the physical entertainment market shrank by three [...]
Supermarket sales slide into reverse as price war hits petrol pumps August 10, 2015 A fierce supermarket price war at both the tills and the petrol pumps has caused sales in the sector to shrink for the first time since records began over 20 years ago. With retailers kicking off another round of petrol price cuts today, fresh data shows how supermarket giants’ troubles are dragging on the UK’s [...]
Hobbs’ losses widen after costly revamp August 9, 2015 Womenswear retailer Hobbs saw losses widen to £15.6m last year, despite a slight pick-up in sale as its new management team struggled to turn the chain around. The brand, whose fans include the Duchess of Cambridge, suffered a £15.6m pre-tax loss in the year to 31 January, up from £14m last time. Turnover rose from [...]
Joblessness data and retail figures focus of quiet week – London Report August 9, 2015 THE CORPORATE results season has past its peak, but the week ahead is due to see some big financial news nonetheless, including UK unemployment figures on Wednesday. Tomorrow retail sales data will be published, while on Friday construction industry output figures will be out. Prudential is reporting its half-year interims tomorrow after chief executive Tidjane [...]
Ceramics maker Portmeirion sits pretty after jump in profit August 7, 2015 PORTMEIRION said profits jumped by 45 per cent in the first half as the launch of a new tableware range with Ted Baker proved on trend with younger shoppers. The Aim-listed tableware producer, which also owns Spode, Royal Worcester and Pimpernel, said sales increased 14 per cent to £27.9m in the half year to 30 [...]
Retailers hit by worst summer in half a decade August 7, 2015 THE UK high street is suffering its worst summer in six years, according to BDO’s latest high street sales tracker, which revealed three consecutive months of falling sales. Mid-market retailers saw sales drop by 1.1 per cent year-on-year in July, the fashion sector taking the biggest hit with a decline of 1.4 per cent. Lifestyle [...]
These cities are the biggest tech lovers in the UK: Exeter, Cheltenham and Loughborough buy the most, while London fails to rank August 6, 2015 Londoners may like to think they are ahead of the curve on most things – fashion, food, and the latest trends – but there's one area in which the capital's residents are left trailing. Where technology is concerned, it's the residents of Exeter who are buying more gadgets than anywhere else in the country. Cheltenham, [...]