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WH Smith sales fall 3% Wednesday, 14th November 2012
WH Smith saw total group sales fall 3 per cent for the first ten weeks of its financial year, as like-for-like sales fell 4 per cent. The book, magazine and entertainment retailer said high street total like-for-like sales fell 5 per cent from 1 September to 10 November. Sales at its travel arm were flat, while like-for-like sales fell by 4 per cent, although the business pointed out that its gross margin had increased in line with its plans, with outlet openings making “good progress” in the UK and internationally.
Burberry revenues up 8% Wednesday, 7th November 2012
British fashion house Burberry has reported an 8 per cent rise in revenues to £883 million for the first six months of the year to September, compared with the same period a year before. However pre-tax profits for the group fell from £158.7 million to £111.9 million after the fashion house had to pay a one-off £73.8 million charge to end its fragrance and beauty licence relationship with Interparfums.
BRC results: October retail sales dash hopes Tuesday, 6th November 2012
The British Retail Consortium (BRC) on Tuesday reported UK retail sales values fell 0.1 per cent on a like-for-like basis from October 2011 according to the BRC-KPMG Retail Sales Monitor, the worst results for growth in 11 months excluding Easter. “Unfortunately it looks like the modest sales revival we saw in September was something of a false dawn.” Stephen Robertson, director general at the BRC said:
“Excluding April, hit by this year’s earlier Easter, October saw the worst sales growth since last November.
Sports Direct posts 18% rise in sales Wednesday, 24th October 2012
It seems Sports Direct is still glowing from an Olympic summer, as sales rose 18 per cent in the nine weeks to 30 September. Britain’s biggest sporting goods retailer on Wednesday revealed group sales rose £402.7 million to the end of September, up from £341.3 million a year before. Gross profit for the period grew 21.7 per cent to £167.4 million, with September sales remaining strong thanks to back to school purchases.The group is said to be targeting EBITDA for 2012-2013 of £270 million, before a charge for bonus share schemes.
'Solid performance' for September as retail sales rise 2.5% Thursday, 18th October 2012
Retail sales were 2.5 per cent higher year-on-year for September, according to the latest figures released by the Office for National Statistics (ONS) on Thursday. Purchases of new clothing collections and school uniforms, tied into a shift in colder weather gave clothing and footwear sales a 2.0 per cent rise for the month.
Retail sales defy 'relentlessly tough times' with 1.5% rise in September Tuesday, 9th October 2012
UK retail sales rose 1.5 per cent for September, as the BRC- KPMG Retail Sales Monitor found strong results in clothing and footwear category brought an end to a weaker-than-expected summer. Sales were up 1.5 per cent on a like-for-like basis from September 2011, when they rose just 0.3 per cent from the previous year.
September brings lift for UK retail sales Wednesday, 26th September 2012
The latest figures from the Confederation of British Industry show a modest lift in retail sales for September, while retailers are said to expect further improvements for October. According to the CBI’s sales balance rose +6 in September, beating analysts’ forecasts of a +5 rise.
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.
Fashion Week headache solved Tuesday, 17th January 2012
London and New York fashion weeks will be rescheduled to fit around those of Milan and Paris. The big four fashion capitals of the world will each get a turn in the spotlight as it is announced the spring/summer 2013 catwalk shows will begin a week earlier than usual to avoid a scheduling clash. New York will begin its Fashion Week on 6 September, following by London Fashion Week on the 14th.
Primark profit drops 8% Tuesday, 8th November 2011
The value clothing retailer saw profits drop 8 per cent for the year to 17 September hit by high cotton prices and the 20 per cent VAT increase in January. Primark said it “chose to forfeit increased profitability for the support of its loyal customer base” by absorbing the cost of rising raw material prices.