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.
UK CPI down 4.2% for December Tuesday, 17th January 2012
The Office for National Statistics (ONS) today released new figures showing the UK’s consumer price index (CPI) fell to 4.2 per cent in December. Used as a measure of inflation, the report showed CPI continued to fall from its peak of 5.2 per cent in September. December’s fall was attributed to transport, housing and household services, clothing and footwear and alcoholic beverages and tobacco.
Shop price inflation falls to 16-month low for December Friday, 13th January 2012
Shop prices inflation ground to a halt in December as retailers cut prices for electrical goods, clothes and footwear in the run up to Christmas. According to the British Retail Consortium (BRC), shop price inflation fell 1.7 per cent last month year-on-year from 2.0 per cent in November, far below a peak of 2.9 per cent in June.
Maplin’s refusal to cut prices pays off for December like-for-likes Thursday, 12th January 2012
The electronics specialist has reported a 1.4 per cent jump in like-for-like sales for the Christmas period, as online sales rose 21 per cent. Gross sales rose by 6 per cent in the four weeks to 31 December. Maplin said its “pleasing” performance in “tough current economic conditions” was due to store improvements designed to focus on offering customers specialist products.
Waitrose sales set new record Thursday, 5th January 2012
According to the supermarket, sales in the week before Christmas set a new weekly record for the retailer. Like-for-like grocery sales, which take away the effect of new store openings, rose 3.8 per cent in December, compared with the same month last year. Overall, grocery sales grew 19.1 per cent in the month, whilst sales at the Waitrose.com online operation grew by 49 per cent.
ASA puts its foot down with new rule to end price war squabbles Monday, 12th December 2011
After a full twelve months of bickering and name calling from the Big Four supermarkets, the Advertising Standards Authority (ASA) has finally lost its patience. From this month, a rival company will no longer be able to lodge a complaint unless it can prove it has tried to resolve the issue with a competitor.
Inditex receives vote of confidence from Nomura and Banco Sabadell ahead of earnings update Wednesday, 7th December 2011
Japanese bank Nomura gave Inditex a vote of confidence this week by reiterating its neutral recommendation price target of EUR 66 for the Spanish retail firm. With Inditex’s earnings presentation just one week away, Japanese media reported that Nomura expects the retailer to present solid results and showcase its strength in the Spanish market.
Sainsbury’s to defy Big Four’s festive price war Monday, 28th November 2011
J Sainsbury will shun the wave of discounts and special offers its rivals have lined up in the run up to Christmas. The UK’s third largest retailer believes shoppers will splash out on Christmas regardless of a gloomy economic backdrop. Mike Coupe, the company’s commercial director, said on Monday...
Thomas Sabo sales rise year-on-year in run up to Christmas Thursday, 24th November 2011
UK sales at the jeweller have risen across all categories in the run up to the Christmas peak trading period. Thomas Sabo also reported it experienced earlier orders from retailers, suggesting its stockists are feeling optimistic over sales of the brand’s jewellery early on in Christmas trading. Thomas Sabo UK managing director Harald Winzer said: "We have had a very good autumn/winter 2011 season so far and our retailers’ feedback is very positive on all our product lines and most of them report to be ahead of last year.
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