Home Retail names Argos boss Walden as next chief executive January 16, 2014 HOME RETAIL GROUP yesterday announced that it has appointed the head of its Argos business to take over from outgoing chief executive Terry Duddy. John Walden, a former Best Buy executive who joined Argos last April, was a clear favourite to take over the post from Duddy, who will step down in March. The news [...]
Ocado delivers Christmas cheer January 16, 2014 OCADO said its online grocery service for Morrisons launched “on time and on budget” last week as it reported bumper Christmas sales. Sales rose 21.3 per cent to £111.1m for the six weeks to 5 January as it benefited from extra capacity at its new fulfillment centre in Warwickshire. Ocado boss Tim Steiner said the [...]
Primark props up AB Foods as sugar slumps January 16, 2014 ASSOCIATED British Foods said yesterday sales at its Primark discount fashion chain were strong over Christmas after being dampened by unseasonably warm autumn weather, helping offset a weaker-than-expected performance at its sugar unit. AB Foods said group revenue was flat for the 16 weeks to 4 January, compared with nine per cent growth for the [...]
Owner of Currys and PC World enjoys record Boxing Day sales January 16, 2014 DIXONS Retail emerged as one of the winners in the battle for consumers’ attention this Christmas as booming tablet sales and demand for kitchenware and large televisions helped drive sales. The owner of Currys and PC World said like-for-like sales in the UK & Ireland jumped five per cent in the period from 1 November [...]
Regulators warn on extravagant hospitality for financial advisers January 16, 2014 THE CITY watchdog yesterday announced guidelines to stop fund providers taking financial advisers to luxury hospitality events over fears it could undermine new rules. In guidelines published yesterday, the Financial Conduct Authority (FCA) said advisers and providers should make sure hospitality is not “extravagant” and ultimately improve the end service offered to retail investors. “Now it [...]
Why luxury means more than one thing in China January 16, 2014 China's wealthy have been buoying luxury brands for years, with high-end Western retailers like Louis Vuitton, Gucci and Burberry touting their wares across the upmarket shopping districts of Shanghai and Beijing. But China's just seen the steepest cut-back on spending in at least five years, according to a survey by the Hurun Report – [...]
These festive victors have found a way of winning online and in store January 16, 2014 Argos, Primark, Halfords, Homebase, Dixons and Ocado: the raft companies who saw sales leap over the Christmas period, and present a stark contrast to the big names (M&S, Tesco and Morrisons) that reported gloomy – and sometimes grim – results last week. It's become something of a cliche to keep emphasising the need for transition [...]
Holiday season sees bumper bike sales for Halfords January 16, 2014 Halfords Group has reported strong growth for the 15 and 41-week periods to 10 January. The company received a boost from bumper retail cycling sales, which grew 19 per cent over the 15 week period to 10 January. The group enjoyed a particularly strong performance in accessories and children's bikes. Online retail sales also boomed [...]
Here’s how Argos made a fierce comeback at the end of last year January 16, 2014 Argos has become the latest digital winner at Christmas, as more companies label their online offering the strand that brought them festive sales success. Internet and mobile technology sales buoyed the high street shop's Christmas performance, despite a "challenging consumer environment", owner Home Retail Group said this morning. In a separate statement, the parent company confirmed [...]
Primark’s “excellent” Christmas bolsters AB Foods January 16, 2014 Primark has come in, as expected, as a winner over Christmas – proof that cheaper products can keep value in bricks and mortar. The budget high street store saw "excellent Christmas trading" as consumers continued to flock to its stores. Sales jumped 14 per cent at actual rates (12 per cent at constant rates) [...]