Topps Tiles sales rise after brand gets a makeover July 1, 2015 TOPPS Tiles posted a jump in third quarter underlying sales yesterday as efforts to modernise its brand and broaden its appeal to include more higher-earning customers paid off. The retailer, which has 346 stores, reported a 5.9 per cent rise in like-for-like sales in the 13 weeks ended 27 June – its third consecutive quarter [...]
Death of cash? British Retail Consortium says the imminent arrival of a cashless society has been “greatly exaggerated” July 1, 2015 Cash was used in just over half of retail transactions last year – but the sector's trade body has heralded this as a sign of suprising strength. "The death of cash has been greatly exaggerated," the British Retail Consortium said today. Consumers used 4.5 per cent less cash on high street and supermarket shopping [...]
Greene King toasts record revenue as retail growth outperforms market July 1, 2015 The figures Pub group Greene King enjoyed record revenue of £1.3bn in the year to the end of March, yet investors were warned not get too carried away as profit before tax fell 2.7 per cent to £168.5m. Read more: Popped corks as Greene King-Spirit pub partnership gets green light The FTSE 250-listed company's retail revenue [...]
Carpetright adds sales by wooing higher earners June 30, 2015 CARPETRIGHT boss Wilf Walsh said yesterday that its strategy to woo more middle class shoppers to its stores was paying off, after posting a strong recovery in UK sales. The retailer, which kits out homes with carpets, rugs and flooring, reported an 183 per cent surge in underlying pre-tax profits to £13m for the year [...]
Tesco share price falls, sales slide as discounters march on ahead June 30, 2015 Tesco shares were dealt a blow yesterday, after industry figures revealed another slowdown in sales at the troubled supermarket chain – despite its recent efforts to turn itself around. Data from Kantar Worldpanel showed sales at Tesco fell by 1.3 per cent in the 12 weeks to 21 June, underperforming the overall grocery [...]
Ocado confident of closing first deal with international retailer June 30, 2015 OCADO said yesterday it was confident of signing its first deal with an international retailer this year, after delivering better-than-expected first half sales. The online grocer’s shares rose more than 15 per cent in June on hopes that it would announce a deal alongside its results. They fell in early morning trading as a deal [...]
Best of the Brokers for 1 July 2015 June 30, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com HALFORDS Halfords has issued a note ahead of the retailer’s first quarter update next month, retaining a “buy” recommendation and its target price of 560p. The broker said the first quarter should reassure with sales growth more widespread than just in cycling. TESCO [...]
Grocers and miners pull index to lowest level since January – London Report June 30, 2015 BRITAIN’S top equity index hit its lowest level since mid-January yesterday, pulled down by supermarkets and miners and underperforming even Eurozone shares despite Greece being hours away from a repayment default. While new data showed Britain’s economy enjoyed a stronger start to the year than previously thought, buoyed by big-spending consumers and an upturn in [...]
John Vickers says ringfencing rules are still necessary June 30, 2015 Despite some bankers calling for an end to ringfencing, John Vickers says the case for separating the retail banking and investment banking arms of banks is still necessary. The architect behind ringfencing plans has said British banks still need to protect domestic retail customers from riskier parts of their operations, and the case for this [...]
Tesco’s share price is falling on the back of Kantar figures showing sales are dropping again June 30, 2015 Tesco was the biggest loser on the FTSE 100 this morning, with the share price dropping like a stone after Kantar's latest market update. Sales at the troubled supermarket fell 1.3 per cent for the 12 weeks to 21st June – underperforming the sector average, which slipped back into a decline of 0.1 per [...]