Dollar dives as US retail sales unexpectedly shrink in June July 14, 2015 The dollar fell after the commerce department said US retail sales unexpectedly fell by 0.3 percent in June, missing economists' expectations for a 0.2 per cent rise. Additionally the retail sales figure for May was revised down by 0.2 per cent to show one per cent growth, down from the 1.2 per cent initially reported. This [...]
Britain spending its way to faster growth in 2015 July 13, 2015 SALES on the high street enjoyed their highest rise in 18 months in June, as rising consumer confidence and improving disposable incomes encouraged shoppers to splash out on clothes and big ticket items. The data, published this morning by the British Retail Consortium (BRC), is the latest evidence of booming consumer spending in the UK. [...]
Bargain Booze owner toasts to better than expected hike in profit July 13, 2015 Conviviality Retail, the company behind the off-licence chain Bargain Booze, saw pre-tax profits rise by 4.4 per cent last year after broadening its range of wines and ales to woo more affluent shoppers. The Aim-listed group, which suspended trading last week after confirming it is in takeover talks with wholesaler Matthew Clark, reported profits of [...]
Dixons on track for strong first year of profits July 12, 2015 DIXONS Carphone is on track to post a strong rise in profits in its first full-year results since Dixons Retail and Carphone Warehouse merged to create a £5.1bn powerhouse last year. The electrical goods and mobile phone retailer is expected to report profits at the top end of its previously forecast range of £355m to [...]
Retail sales and jobs data expected to prove positive – The week ahead July 12, 2015 RETAIL sales data and employment figures due out this week are expected to show improvement, while some of the UK’s biggest brands will update the market over the next five days. The British Retail Consortium (BRC) retail sales monitor for June, out tomorrow, is expected to show healthy year-on-year retail sales growth in June. Data [...]
Dunelm shops at Go-Ahead for finance chief July 9, 2015 HOMEWARE group Dunelm has appointed the finance chief of transport group Go-Ahead to take up the same role as it reported better than expected fourth quarter sales. Keith Down, who joined Go-Ahead four years ago and has also held senior roles at Tesco and JD Wetherspoon, will take over in September, replacing David Stead, who [...]
Coty lands sweet smelling $12bn Procter & Gamble beauty deal July 9, 2015 In a transaction valued at $12.5bn (£8.1bn), multinational consumer goods company Procter & Gamble (P&G) has agreed to sell 43 of its brands to global beauty products manufacturer Coty. The various brands acquired by Coty include Max Factor, Hugo Boss and Lacoste, and all compete in the hair care, retail cosmetics and fine fragrance sectors. [...]
China tries to calm stock market chaos: As panic grips markets, authorities have unleashed a range of weapons July 9, 2015 China's stock markets are in the midst of a crash, and with panic spreading, authorities have stepped in with drastic measures to prevent a looming disaster. Over the last 12 months the Shanghai Composite soared 180 per cent in a spectacular bull run which came to an abrupt end mid June. Since then, the [...]
Bargain Booze and Wine Rack owner Conviviality Retail suspends trading after takeover talks with Matthew Clarke confirmed July 9, 2015 Trading in Aim-listed group Conviviality Retail has been suspended this morning, after confirming it is in takeover talks with Matthew Clark Holdings. Shares have been suspended because if the sale goes through it would constitute a reverse takeover under Aim rules, meaning privately-owned wholesaler Matthew Clark could become a public company without going through [...]
SuperGroup’s share price jumps after brand beats revenue expectations July 9, 2015 SuperGroup's share price jumped 4.6 per cent after beating expectations on revenues and earnings. The figures: Sales at the Superdry parent company were up 12.9 per cent to £486.6m – above analyst consensus, which had tipped that figure at £483.3m – while pre-tax profits were up two per cent to £63.2m. Underlying earnings per [...]