M&S Christmas trading blighted as clothes sales continue to fall January 9, 2014 No belated Christmas cheer for Marks and Spencer – the group's just reported that like-for-like sales in the 13 weeks to 28 December were down 2.1 per cent. The quarter, it said this morning, was a challenging one, and performance was below expectations. Sales in general merchandise, which includes clothes, fell for the tenth quarter [...]
2014 brings bad news for Britain’s supermarkets January 9, 2014 Tesco has announced a disappointing set of results for the Christmas and New Year period. In the UK like-for-like sales were down 2.4 per in the six weeks to 4 January. Group sales for the period fell by 1.2 per cent. Chief executive Philip Clarke commented: We continued to invest in the most compelling offer [...]
Sainsbury says discounters an all-year threat January 8, 2014 SAINSBURY’S chief executive Justin King yesterday conceded the pressure from discounters was an “all-year” rather than a Christmas effect, as the group posted a sharp slowdown in sales over the Christmas quarter. Shares fell 2.4 per cent yesterday after the supermarket posted a 0.2 per cent rise in like-for-like sales in the 14 weeks to [...]
Supermarket retailers Waitrose and Co-op see mixed fortunes January 8, 2014 THE FESTIVE trading period produced mixed fortunes for supermarket retailers Waitrose and the Co-operative, which is fighting to turn itself around after a dire year for its banking arm. The Co-op’s food arm, which has been steadily losing market share, gained some respite after posting a one per cent rise in like-for-like sales in 13 [...]
Fat Face steps closer to float January 8, 2014 FAT FACE’S chief executive said yesterday the leisurewear retailer was “examining an IPO in more detail” as it delivered strong first half sales. Anthony Thompson said the group, which hired Lazard last year to explore options for the business, was now seriously considering an IPO off the back of a strong first half. Sales rose [...]
Analyst Views: What was your reaction to Sainsbury’s third quarter statement? January 8, 2014 GRAHAM JONES | PANMURE GORDONA very difficult October and November was made up by strong Christmas trading..we continue to view Sainsbury’s as the best placed of the UK food retailers, but our caution on the short-term sector outlook holds us back from having a more positive recommendation on the stock. JAMES GRZINIC | JEFFERIESKantar data [...]
Mothercare woes mount January 8, 2014 SHARES in Mothercare plunged 30 per cent yesterday after the mother and baby products retailer issued a profits warning more than halfway into its turnaround plan. Mothercare is the second listed-retailer to issue a Christmas profits warning after Debenhams’ shock announcement last week, also blaming higher levels of discounting activity on the high street as [...]
Good Christmas for New Look January 8, 2014 FASHION retailer New Look saw a 1.5 per cent increase in like-for-like sales over the Christmas period, a spokesperson confirmed yesterday. The UK’s second-largest women’s value store did not discount its products heavily, unlike its rivals, and still managed modest growth in the last seven weeks of last year. Despite the positive news, New Look [...]
Euro area jobless rate stuck at record high yet retail sales rise January 8, 2014 THE UNEMPLOYMENT rate in the Eurozone stuck at a record high for the eighth month in a row in November, with joblessness hitting an historic peak in Italy. Separate data also showed a 1.4 per cent jump in retail sales in November, the sharpest monthly rise for 13 years and a more positive sign for [...]
Bottom Line: A costly decision hits Mothercare at home January 8, 2014 TEARS before bedtime for Mothercare yesterday as a profit warning sent shares down almost a third for the mother and baby retailer. Its turnaround plan, which brought the firm back to profit for the first time since 2010 last autumn, seems in danger of turning into a merry-go-round, leading things back where they were before. [...]