Primark “thriving” with annual sales up 15% Monday, 10th September 2012
Strong trading in the UK and Europe saw total sales at Primark rise 15 per cent for the year to 15 September. Primark owner Associated British Foods (ABF) said like-for-like sales at the fast fashion chain had risen 3 per cent over the year. "June, July and August have been great for Primark in the UK.” ABF finance director John Bason said on Monday.
Analysts buoyed by Debenhams performance Monday, 10th September 2012
New leadership and a strenghtened growth strategy has given analysts and investors renewed confidence in the Debenhams, with Singer Capital Markets this morning raising its target price for the retailer. The upgrade comes after analysts and investors were invited to visit with management on Friday at Debenhams’ Milton Keynes store, where it was able to showcase a number of strategic changes made to the business during the down-turn.
UK inflation up 2.6% Tuesday, 14th August 2012
Analysts see surprise jump in UK inflation as clothing retailers cut down on seasonal discounts. Consumer price inflation rose 2.6 per cent from 2.4 per cent in June, in an unexpected turn for economists who had forecast a fall. The Office for National Statistics attributed the jump to a rise in airfares (growing 21.7 per cent month-on-month), housing costs and less discounting by retailers in the wake of bad weather.
Visa finds Olympic boost for consumer spending Wednesday, 8th August 2012
International visitors to the UK spent more than £450 million on Visa cards in the first week of the Olympic Games, up 8 per cent from levels a year before. Visa said tourists shelling out on restaurants, nightclubs, theatres and London’s key attractions had helped the boost in spending.
Boden and M&S fail to make the grade in ‘value for money’ survey Monday, 2nd July 2012
It’s bad news for Boden and Marks & Spencer after the retailers came in last and second last place respectively in a survey to determine the best ‘value for money’ clothing brand in the UK. As part of research conducted by GfK, shoppers were asked to choose the best ‘value for money’ and ‘design and quality’ from a range of seven fashion retailers.
War on the forecourts: Supermarkets cut fuel prices Monday, 25th June 2012
Tesco, Asda and Sainsbury’s have all announced cuts to fuel prices as retailers look to “bring a smile back” to the nation’s shoppers. From Tuesday, Asda customers will pay no more than 127.7p for a litre of petrol and 132.7p for diesel. Sainsbury’s will also reduce its fuel prices “by up to 2p per litre”.
London Q1 rent rates drop 0.8% Tuesday, 10th April 2012
Commercial property rent rates in London fell 0.1 per cent in March, taking 2012’s first quarterly decrease to 0.8 per cent, according to the latest Prime Central London Lettings index from Knight Frank. Despite the drop, rent rates in 2012 remained 1.2 per cent higher than at the same time a year ago.
On the bread line: Premier Foods announces £259.1m loss Monday, 19th March 2012
Premier Foods on Monday announced a £259.1 million pre-tax loss for 2011, as the Hovis owner fought against tough price competition in the bread market. According to the BBC, trading profit in Premier Food’s bread division fell 90.4 per cent to just £3.4 million.
Warren Buffett spends £350m on Tesco shares Thursday, 19th January 2012
True to his word, Warren Buffett has upped his stake again in Tesco, after the supermarket was forced to issue its first profit warning in over 20 years. In November last year Buffett, arguably one of the world’s most successful investors, said he would buy more Tesco shares if the price fell. The Berkshire Hathaway chairman stuck to that claim and on the back of Tesco’s share slum last week, increased his stake from 3.6 per cent to 5.1 per cent, spending roughly £350 million on the purchase.
Tesco makes U-turn on discounts after big share price drop Wednesday, 18th January 2012
Coupon queens can breathe a sigh of relief: Tesco has announced the return of its money-off vouchers after chief executive Philip Clark admitted its Big Price Drop had failed to deliver. The supermarket saw £5 billion wiped off its market value after a disappointing set of results from Christmas trading.
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