US shoppers set for strong holiday season December 11, 2014 US RETAIL sales jumped by 0.7 per cent in November compared to October, data showed yesterday. It marks an improvement on the 0.5 per cent month-on-month increase in October, according to the US Commerce Department. Core sales – which ignores cars, petrol, building materials and food services – climbed 0.6 per cent month-on-month. They were [...]
Moss Bros reports 7.8pc rise in sales as it sees off warm autumn December 11, 2014 BRITISH suit rental company Moss Bros Group yesterday reported a 7.8 per cent rise in sales throughout the first 19 weeks of the second half compared with the same period last year. The company said that it benefited from new sub-brands launched for the autumn season, as well as trading from refurbished stores. In the [...]
Strong figures help Dow end three-day fall – New York Report December 11, 2014 US STOCKS rose yesterday as upbeat retail sales and other data pointed to a strengthening economy and lifted optimism about consumer spending. Indexes ended well off their highs for the day, however, paring gains late in the session as Brent Crude oil settled down 0.9 per cent, putting a lid on energy shares, and as [...]
Sports Direct brushes off England’s early World Cup exit but results show even Mike Ashley can’t predict the weather December 11, 2014 Sports Direct has brushed off England's disappointing World Cup performance but it seems owner Mike Ashley is not immune to the unseasonal weather. The figures Group revenue rose 6.5 per cent to £1.4bn in the six months to 26 October. Underlying earnings before interest, taxes, depreciation, and amortisation rose 11pc to £203.1m, excluding charges related to the [...]
N Brown digital move pays off as sales thaw December 10, 2014 N BROWN yesterday said sales had picked up towards the end of the third quarter after warm autumn weather had forced the retailer to cut its full-year profit forecast in October. The company, which targets older and plus-sized shoppers with brands such as Jacamo and Simply Be, said it returned to growth in October and [...]
FTSE 100 slips again as oil prices hit energy groups – London Report December 10, 2014 Britain's main equity index fell yesterday for a third day in a row as a further drop in the price of oil hit energy stocks. The blue chip FTSE 100 index closed down by 0.5 per cent, or 29.43 points, at 6,500.04 points – its lowest closing level since early November. Following the decline [...]
Tesco in further turmoil after profits tumble December 9, 2014 Investors fled for cover yesterday as Tesco warned on profits for the fourth time in five months, raising fears in the City that the ailing supermarket could become a takeover target. Analysts at investment bank Espirito Santo compared Tesco’s demise to that of Sears in 2004, when the US retailer – once the [...]
Asos sales slow as strong pound dampens international growth December 9, 2014 Online fashion retailer Asos suffered a slowdown in sales in the first quarter of the year, after the strong pound dented its international business. The company said its total retail sales rose eight per cent to £246m in the three months to 30 November, down from a 15 per cent rise the previous quarter. [...]
John Lewis sales remain strong following bumper Black Friday December 9, 2014 The UK’S largest department store group John Lewis saw sales grow 10.8 per cent to £160m last week compared with the same week last year, with colder weather boosting sales of knitwear. Due to the roaring trade during Black Friday the week before, John Lewis saw its biggest ever week for sales in its 150-year [...]
Mothercare poaches Rexam’s finance chief Richard Smothers December 9, 2014 MOTHERCARE yesterday announced it had secured a new chief financial officer after poaching Richard Smothers from the same role at packaging group Rexam. The baby goods retailer said that Smothers would join the firm on 23 March after stepping down at Rexam. He will replace Matt Smith, who is leaving next month to become chief [...]