After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Mike Ashley’s USC bought out of administration by… Mike Ashley’s Republic January 16, 2015 Mike Ashley's fast fashion retailer USC has been bought out of administration by… Mike Ashley's fast fashion retailer Republic. A notice of intention to put USC, which was bought out by Sports Direct in 2011, into administration was filed last week, with the threat that the company's 90 stores would shut, putting hundreds of [...]
JD Sports share price soars with retailer predicting big profits January 16, 2015 The Christmas season may already feel like a distant memory for most, but at JD Sports the festivities are still in full swing. The UK sports retailer’s share price soared seven per cent in early morning trading after the company increased its profit guidance for the year. JD Sports told investors to expect [...]
Mothercare CEO Mark Newton-Jones on not going into sale pre-Christmas January 15, 2015 The Christmas trading season was something of quick-draw for retailers, after firing off a raft of promotions to boost sales that culminated in Black Friday – the UK’s biggest ever shopping day. Yet those that do not get caught in the crossfire of promotional activity can have the upper hand, according to Mothercare CEO Mark [...]
Argos owner warns of Black Friday blues January 15, 2015 THE CHIEF executive of Home Retail Group warned yesterday against the risk of chasing sales over Black Friday week at the expense of profit after the Argos owner reported weaker-than-expected results for the festive period. John Walden said it had decided to take a much more cautious approach to discounting in the run-up to Christmas [...]
H&M dresses up warm as strong winter collection boosts its sales January 15, 2015 Hennes & Mauritz, the world’s second-biggest fashion retailer, yesterday reported higher-than-expected sales growth in December, helped by strong collections and colder weather after an unusually mild autumn in Europe. For Sweden-based H&M, it was the ninth consecutive month that the company, which is also benefiting from a recovering North American economy, achieved sales clearly or [...]
Turnaround for Mothercare? Higher sales in the third quarter indicate a change in fortunes January 15, 2015 The figures Mothercare's like-for-like sales in the UK rose 1.1 per cent in the third quarter, indicating the babycare retailer's troubled spell may be coming to an end. Total UK sales fell 1.9 per cent in the 13 weeks to 9 January, but when you factor in the closure of 4.2 per cent of the [...]
Burberry sales slowed by Hong Kong protests January 14, 2015 BURBERRY said sales in Asia slowed in the third quarter of its year to “low single-digit growth” after the Hong Kong protests deterred shoppers from visiting its stores. Chief financial officer Carol Fairweather said footfall across its Hong Kong stores was “significantly down” because of the protests, which made some of the city’s core shopping [...]
Shop Direct delivers Very merry Christmas as online orders boom January 14, 2015 LITTLEWOODS owner Shop Direct yesterday said sales surged over the Christmas period as Black Friday became its busiest shopping day. The online and catalogue retailer, owned by billionaire brothers Sir David and Sir Frederick Barclay, said sales across its biggest website Very.co.uk were up 134 per cent year-on-year on the US-style shopping day. Chief executive [...]
Supergroup shares surge after cold winter snap boosts demand January 14, 2015 SUPERGROUP’S shares surged yesterday as the owner of the Superdry fashion label said sales had rebounded over Christmas, helped by the onset of the cold winter weather. In a trading statement released ahead of plan, the retailer said like-for-like sales jumped 12.4 per cent in the 11 weeks to 10 January as customers snapped up [...]
Wells Fargo hopes for more UK expansion January 14, 2015 GIANT US retail bank Wells Fargo saw profits edge up in the final quarter, led by steady loan and deposit growth. The bank has expanded into areas such as asset-based lending in the UK, and has plans to expand the business further, on the basis that mid-sized firms have traditionally been under-served by large international [...]