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Crunch time as M&S expected to post lowest annual profit in four years Monday, 20th May 2013
One of Britain’s best-known brands is expected to report its lowest annual profit in four years on Tuesday, as sales continue to drag for Marks & Spencer. The department store is forecast by analysts to report a profit before tax and one-off items of £640 million to £670 million tomorrow, with a consensus of £658 million, according to a company poll.
US Apple stores make record sales Monday, 20th May 2013
A study by Asymco’s Horace Dediu shows that Apple’s US retail stores make money than any other store per square feet, as well as revenue per visitor. Approximately USD 13 million worth of revenue is accumulated per store, which roughly translates as USD 57.50 per visitor.
Macy's earnings per share rise for 15th consecutive year Monday, 20th May 2013
Macy’s Inc. is keeping the pressure on to emulate rising sales figures after its earnings per share rose for the 15th consecutive year. According to WWD, Macy’s first quarter results show that they achieved a 13th straight quarterly comp gain of at least 3 per cent and sales have rose by more than USD 1 billion in each of the last three years.
Luxury watch retailers at Hong Kong report negative financial results Monday, 20th May 2013
Hong Kong which is the world's significant market for luxury watches are experiencing the effects of the fall in demand by Chinese travellers.
Marks & Spencer next in line to face criticism for corporate tax structure Monday, 20th May 2013
Marks & Spencer has become embroiled in the corporate tax debacle which has seen tax campaigners criticise big companies about the way they structure its online sales to Europe. The Guardian has recently launched an investigation into companies who appear to be exploiting lenient tax rules by invoicing transactions to countries with the lowest corporate tax rates.
Mixed bag for BRC results as both footfall and shop vacancy rates rise Monday, 20th May 2013
The latest results from the British Retail Consortium revealed footfall on the high street rose 3.4 per cent year-on-year in April, the biggest increase since the run up to Christmas 2011. According to the results, which were compiled by the BRC and Springboard, the high street saw significantly more visitors in the month, compared with a 0.3 per cent rise in footfall for out-of-town centres, and a 3 per cent drop in shopping centres.