Game on: Retailer eyes a float as Grand Theft Auto helps its revival January 15, 2014 GAME’s radical turnaround since collapsing into administration in 2012 was underscored yesterday after the retailer revealed that sales had almost doubled over Christmas, paving the way for a potential float. Total sales rocketed 83 per cent in the six weeks to 4 January, helped by the popularity of Grand Theft Auto V. The firm is [...]
What the other papers say this morning – 16 January 2014 January 15, 2014 FINANCIAL TIMES Payday lenders to create database After repeatedly saying that it was impossible to create a database for payday loans the UK’s largest payday lenders are clubbing together to set one up. Wonga, Quick Quid, Mr Lender and ThinkFinance have all signed up to provide information to a real time credit-reporting system run by [...]
Burberry shares lift the FTSE as luxury sales beat forecasts January 15, 2014 BURBERRY was the second highest riser on the FTSE yesterday after the luxury retailer revealed better-than-expected sales, driven by Asia Pacific and demand ahead of Chinese New Year. Shares closed 4.7 per cent higher as the 158 year-old firm posted a 14 per cent rise in sales to £528m and a 12 per cent increase [...]
Laura Ashley raises £8m after selling entire stake in Moss Bros January 15, 2014 LAURA Ashley parted ways with suit-maker Moss Bros yesterday after selling its entire holding in the company and raising £8m. The womenswear and home furnishings store started building up its stake in 2008, which sparked talks of a possible takeover, but a bid never came to fruition. Laura Ashley is taking advantage of Moss Bros’ [...]
H&M reports good Christmas as starts making clothes in Africa January 15, 2014 SWEDISH budget fashion retailer Hennes & Mauritz (H&M) said yesterday its total sales rose 10 per cent in December, right in line with market expectations. H&M said it would no longer report comparable sales for stores open at least a year, saying total sales were more relevant. December is the first month of H&M’s fiscal [...]
Late dash for online gifts over Christmas gives UK Mail a boost January 15, 2014 LAST-MINUTE online shopping over Christmas helped boost revenues at delivery company UK Mail, the firm said yesterday. Parcel volumes were up 15 per cent in the final three months of the year, and mail volumes also rose from last year’s levels. “It is clear from weekly volume patterns that shoppers were, more than ever before, [...]
Shoppers set to spend 17 per cent more in 2014 January 15, 2014 Online retail sales for 2013 have thumped expectations – as spending jumped by 16 per cent to £91bn compared with the previous year and now accounting for almost a quarter (21 per cent) of the total retail market. Those are from the latest online retail findings ofIMRG and Capgemini, which were revealed today at a [...]
H&M shows high streets can work in a digital age January 15, 2014 H&M has reported a 10 per cent rise in sales in December, matching analysts' forecasts and providing proof that high street stores can have what it takes to rival online competition. At the end of 2013, the mid-range retailer had 3,176 stores compared to 2,809 at the end of 2012. When it came to sales [...]
What you need to know before the open – 15/01 January 15, 2014 European bourses are expected higher this morning, after a US rebound on positive retail sales. In Wednesday trading the Nikkei climbed 2.5 per cent – its best one-day gain in four months. The World Bank upped its growth forecast for the first time in three years yesterday, as leading economies continue to pick up pace. [...]
Burberry flags currency headwinds as sales jump 12pc January 15, 2014 Burberry has said that, despite a reasonably strong festive season, it expects exchange headwinds to affect its second half results. The high-end fashion store has posted a 12 per cent rise in comparable sales for the last three months of 2013, with retail revenue up 14 per cent to £528m. Nomura analysts had expected sales [...]