All City & finance articles – Page 484
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OpinionOcado beats the bears
If there is one retailer that could have convincingly used the snow as an excuse for lost sales over the Christmas period it is Ocado.
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NewsConsumers will still carry on shopping, M&S chief believes
Marks & Spencer chief executive Marc Bolland does not expect consumer demand to fall off a cliff this year, despite an expected squeeze on income and economic uncertainty.
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NewsGeneral retailers look a better bet than grocers
General retailers provide a better investment opportunity than food retailers in 2011, Oriel analysts believe.
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News
M&Co’s sales weather the big freeze
Value retailer M&Co generated like-for-like growth over the eight weeks to Christmas Eve of 2.7% despite being “significantly” impacted by snow.
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NewsBig freeze helps Mountain Warehouse climb higher
Outdoor retailer Mountain Warehouse benefited from December’s arctic conditions as its Christmas sales soared. Like-for-likes rocketed 15.6% in December as shoppers snapped up winterwear.
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NewsBrightHouse sees demand surge but stays cautious
Rent-to-own electricals and furniture retailer BrightHouse has revealed a strong Christmas but cautioned that current trading has been tougher. Like-for-likes increased 9.8% in the 13 weeks to December 31, 2010.
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NewsClinton to highlight value following slow Christmas
Clinton Cards is to emphasise its value credentials following a profit warning last week.
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NewsInvestors still cold on the retail sector
General retailers and grocers were both left on the shelf by investors and the market was flat overall.
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NewsDebenhams warns of more price rises to come
Debenhams has flagged a double-digit price increase in outerwear for autumn 2011 and expects prices overall to increase by between 4% and 6% before VAT over the year.
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NewsPeacocks delivers full-year profits increase as shoppers trade down
Peacocks Group, the fashion retail group that operates value chain Peacocks and mature womenswear business Bonmarche, said that EBITDA and sales rose across the group last year.
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NewsShop Direct targets double-digit growth
Home shopping group Shop Direct is gunning for double-digit sales growth this year on the back of new brand launch Isme and expanded product lines across the group.
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NewsDunelm down in the dumps while Topps Tiles impresses
Updates from home retailers Dunelm and Topps Tiles painted a contrasting picture of trading conditions in the sector.
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NewsJJB Sports shareholders expect profits to return
JJB Sports’ biggest shareholder expects the troubled retailer will return to the black this year.
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NewsCo-op sales hit by bad weather
The Co-operative Group has reported like-for-like sales fell 3.2% in its food division for its fourth quarter, saying the weather took its toll on footfall and spending patterns.
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NewsTesco reports modest Christmas growth
Tesco has reported modest growth over Christmas with UK like-for-like sales for the six weeks to January 8 up 0.6%, saying it was “hindered” by the snow.
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NewsSuperGroup Christmas sales soar
SuperGroup, the owner of fashion chain Superdry, has revealed a bumper Christmas, with retail sales surging 93.6% to £51.7m.
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NewsRussian oligarch Mamut increases his stake in HMV
Russian oligarch Alexander Mamut has increased his stake in HMV again, to more than 6%.
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NewsDunelm's Christmas like-for-likes slide
Dunelm Group has reported a like-for-like sales fall of 4.2% in its second quarter over the Christmas period, resulting in a like-for-like dip of 1.2% for its first half.
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NewsKingfisher launches tender offer for £100m of notes
International DIY group Kingfisher is to cut debt and improve its return on cash by purchasing up to £100m of loan notes from holders.
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NewsHouse of Fraser enjoys record Christmas
House of Fraser has posted a record Christmas with like-for-like sales increasing 8.5% in the five weeks to January 8, despite last month’s snow.