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Parliament to extend inquiry into British high street Monday, 29th April 2013
Parliament is said to be preparing to extend its inquiry into the British retail sector after a huge response to a request for opinions. Back in March a parliamentary committee invited contributions from retailers and other parties involved in the industry. Although the deadline for entries has since passed, MPs on the Department for Business, Innovation and Skills Select Committee are understood to be considering an open-ended inquiry.
Bitter pill for Tesco as analysts forecast 10.7% drop in underlying annual profits while turnaround takes hold Tuesday, 16th April 2013
The UK's biggest retailer is now expected to report its first fall in underlying annual profit in two decades, as plans to rejuvenate the business begin to take hold. According to a report by Reuters, analysts have on average expect Tesco to announce an underlying pretax profit of £3.50 billion for the year to 13 Feburary.
BCC: UK will avoid triple dip recession Tuesday, 2nd April 2013
It’s thought the UK will avoid a third period of recession, according to a survey by the British Chambers of Commerce (BCC). According to the BCC, a strong performance by Britain’s service industries in the first three months of 2013 have kept the economy growing, contrary to the economic picture being painted by official figures.
UK shopping centre investment up 194% for Q1 Tuesday, 2nd April 2013
Crowds at Trinity Leeds celebrate opening day. As Trinity Leeds enters its second full week of trading, Savills reveals the total value of shopping centre deals in the first quarter of 2013 has risen 194% year-on-year. According to the property agent, the total value of deals in the first quarter of the year was £1.43 billion, up 194 per cent on the £488 million achieved in the same period last year.
January “lifts spirits” for retailers as sales grow 1.9% Tuesday, 5th February 2013
UK retail sales rose 1.9 per cent on a like-for-like basis from the same period a year before, with total sales up 3.0 per cent, its highest growth since September 2012 and like-for-like sales growth for 13 months. The latest figures from the British Retail Consortium (BRC) –KPMG Retail Sales Monitor are set to provide some much needed relief to the industry, which traded through heavy snowfall in the last two weeks of January.
Retailers toast to industry at 60th Retail Trust London Ball Tuesday, 29th January 2013
Figures from across the industry last night gathered for the 60th Retail Trust London Ball, raising £1 million towards the care and support of fellow retailers. My-Retail Media joined the festivities on Monday evening for its 60th year of celebrating one of Britain's most prevalent sectors, with £1 million raised in aid of the Retail Trust.
It’s a draw for Tesco and Sainsbury’s after both post 3.9% growth for festive sales Wednesday, 16th January 2013
The race for Christmas sales is over, with Sainsbury’s managing a dead heat with sector-leader Tesco according to the latest figures from Kantar Worldpanel. As the yearly furore over peak sales results comes to a close, market researcher Kantar on Tuesday announced both Tesco and Sainsbury’s had posted identical gross sales growth rates of 3.9 per cent in the six weeks to 6 January, while their market shares remained unchanged from a year ago.
Deloitte finds retail administrations rise 6% in 2012 Thursday, 3rd January 2013
Deloitte restructuring services partner Lee Manning says “too many retailers have too many stores” as 2013 looks set for more closures. Accountancy firm Deloitte, who became Comet’s administrators in late 2012, said 194 retailers fell into administration last year, compared with 183 in 2011 and 165 in 2010.
A Christmas message from My-Retail Media Tuesday, 25th December 2012
Here’s wishing all our readers and followers a very merry Christmas from everyone at My-Retail Media. Come snow, rain or sunshine, we’ll still be posting all the breaking retail news throughout the festive season and beyond. In the mean time, eat, drink and be merry!
ONS finds retail sales fell flat for November Thursday, 20th December 2012
Retail sales came in flat for November and below analyst expectations, as even a rise in tablet computer purchases couldn't offset weak consumer confidence found across the UK. The latest results from the Office for National Statistics on Thursday revealed retail sales volumes were flat for the month, with an annual rise of 0.9 per cent, coming in below economists’ forecasts for monthly and annual sales growth.