Looks like we’re not going back to $50 Brent crude after oil prices rose following positive news on supplies July 29, 2015 The price of a barrel of Brent crude oil jumped 1.1 per cent to $53.94 in late afternoon trading after a report showed a surprise dip in US oil reserves. A report by the US Energy Information Administration showed oil stocks fell to 459.7m barrels in the week to Friday, down 4.2m barrels from the [...]
CBI distributive trades survey: Britain’s retailers are expecting a slow summer July 29, 2015 A widely watched industry survey has shown UK retailers expect sales volumes to weaken further next month, after an already disappointing performance in July. The CBI distributive trades survey said 30 per cent of firms expect sales volumes to rise in the year to August, while 17 per cent said they expect them to fall, [...]
Greggs share price soars as profits leap and dividend rises July 29, 2015 Greggs' share price jumped nearly six per cent this morning after its first half results showed the business is on a (sausage) roll. The figures The retailer had a strong first half, with sales up 6.4 per cent to £398m and pre-tax profits leaping 51 per cent to £25.6m. The baked goods business is [...]
Supermarket wars: Growth at Co-op Food for first time in a year, as Tesco and Asda decline yet again July 28, 2015 The Co-Operative supermarket is back in growth for the first time in a year, as Sainsbury's reclaims its second place position in the sector. The sector experienced slight growth for the 12 weeks to 19 July, with sales up 0.8 per cent year on year – though this was generally experienced by the smaller [...]
Next’s share price jumps as it raises profit forecast after better than expected first half July 28, 2015 Next's share price jumped 1.4 per cent this morning, after raising its profit guidance for the full year following better than expected sales in the first half of this year. The high street chain is really showing Marks & Spencer how to do it. While its high street rival is struggling to get its [...]
Finding the right partner for your growth July 26, 2015 ESTHER Marlow, finance director of Carmel Clothing, and Gary Edwards, Growth & Acquisition Finance at Investec, discuss why a fast-growth business needs the right funding partner to support its expansion. How did Carmel and Investec come to work together? EM: Carmel Clothing is a UK-based manufacturer that supplies clothes to supermarkets and high street retailers. [...]
Is the Guardian Media Group following Pearson’s lead? Top Right Group sale or IPO reportedly being considered by owners GMG and Apax days after FT sale July 26, 2015 Just days after Pearson sold off the FT Group in a deal worth £884m, the Guardian Media Group may now be following its lucrative lead. Top Right Group, the publisher of industry magazines such as Drapers, Retail Week and Nursing Times formerly known as Emap, is being prepared for a sale or float by owners [...]
Statistics can be used in many ways: The Office for National Statistics’ retail sales index is designed for everyone to understand July 24, 2015 What is important for one person isn't always the most important thing for someone else. This is why it's vital to offer different ways of looking at how things are changing in order to get the full picture. The ONS' retail sales index is one of the best indicators of the performance of the [...]
Amazon overtakes Walmart as US’ biggest retailer: But has it really stolen its crown? July 24, 2015 The king is dead: Long live the king. If Americans still had monarchic leanings that might be how they would have viewed last night’s shock announcement that Walmart, that behemoth of retailing, had lost its crown as the nation’s biggest retailer. The fact that it lost it to Amazon, a dot-com upstart with no physical [...]
Amazon Prime Day delivers as sales skyrocket July 23, 2015 ONLINE retail giant Amazon smashed expectations last night, revealing $23.2bn (£14.9bn) in sales during the three months to 30 June. Analysts had high hopes for Amazon’s sales, with forecasts of a 16 per cent jump, which the company managed to out-do, pushing revenue up by 20 per cent. The group returned to profit during the [...]