Marks & Spencer AGM: Setback for M&S as clothing sales slide off hanger July 7, 2015 Investors and retail observers allowed themselves a small sigh of relief in April when Marks & Spencer brought 14 consecutive quarters of falling general merchandise sales to a halt. After efforts to improve the quality and style of its clothing and to win back disillusioned customers, it seemed to have broken a spell. [...]
Eagle Eye wins Sainsbury’s vouchers deal July 7, 2015 EAGLE Eye Solutions, a retail and hospitality voucher firm backed by Sir Terry Leahy, saw shares jump 7.3 per cent yesterday after striking a deal with the ex-Tesco boss’s former supermarket rival Sainsbury’s. The company, which floated on Aim last year, will handle all of Sainsbury’s digital offers and vouchers using its so-called AIR platform, [...]
Shop prices fall as retailers woo shoppers with summer offers July 7, 2015 Shop prices fell in June for the 26th consecutive month albeit at a slower rate, as retailers continue to battle to win over shoppers. Prices fell by 1.3 per cent on the year, so said the British Retail Consortium (BRC) and Nielsen, from the 1.9 per cent drop for May. Food prices fell by 0.4 [...]
July Budget 2015: Liberalised shopping on Sundays will deliver big benefits to the consumer July 7, 2015 The liberalisation of Sunday trading hours, expected to be announced in the Budget today, is a timely response to the way in which Sundays have changed in the 21 years since shopping hours were last reformed in 1994. Sundays remain a day of leisure for most of us, and our leisure time is enriched by [...]
Asos shrugs off last year’s woes as sales soar 20 per cent July 7, 2015 Asos is surging ahead in the UK – but international growth and currency headwinds are still dampening the etailer's earnings. The figures: Retail sales were up an impressive 20 per cent for the four months to 30 June, with the UK up 27 per cent, while international sales were up 16 per cent. International sales [...]
Marks & Spencer slips back into decline after just one quarter of growth July 7, 2015 Marks and Spencer's general merchandise arm has slipped back into decline following just one quarter of growth. The figures: M&S' story is pretty much the same as it has been for many months. Total sales in general merchandise were up 0.2 per cent but like-for-likes were down 0.4 per cent, reversing a solitary [...]
Eurozone spending stays on the level in June July 6, 2015 June’s Eurozone retail Purchasing Managers’ Index data, published yesterday, showed a slender increase in total retail sales at 50.4, down from May’s 49-month high of 51.4, resulting from strong growth in Germany and an easing downturn in France, while Italy was the principal drag.
Amazon to launch new global shopping event “Prime Day” at midnight on 15 July to rival Black Friday July 6, 2015 Amazon is hoping to stir up the same shopping frenzy as Black Friday by launching of new global shopping day next week with hundreds of promotional deals. The online retail giant is turning 20 years old next week and as part of its celebrations it will launch Prime Day at midnight on 15 July, which [...]
City Moves for 06 July 2015 | Who’s switching jobs July 5, 2015 SEI The investment firm has appointed Andrew Booker as head of sales within its private banking business. He joins from Brown Brothers Harriman & Co, where he held roles in sales, relationship management and strategic planning. Booker has also held senior roles at JP Morgan Private Bank. Countrywide Samantha Tyrer has been appointed managing director [...]
FTSE slide halted by BP’s £12bn US settlement – London Report July 2, 2015 BRITAIN’S top share index ended higher yesterday as oil major BP rose after reaching an $18.7bn (£12bn) settlement with the US government and commodity stocks tracked stronger crude oil and metals prices. BP rose 4.5 per cent, the top gainer in the blue-chip FTSE 100 index, after saying it had reached the settlement on the [...]