Retail news round-up on November 27, 2015: Black Friday kicks off in the UK with a slow start and Oasis records profit for the first time in three years.
Black Friday kicks off in UK with a slow start
The biggest shopping day of the year, Black Friday, has officially kicked off in Britain. The Sales bonanza has had a slow start this year as many shoppers turn to online Sales rather than waiting in the cold for bricks-and-mortar stores to open.
Shops across the UK are opening early but are being deserted with few shoppers rushing in to grab a bargain.
It is anticipated today will see the first £1bn online shopping day in the UK.
However, while some Britons prepare to embark on a frantic day of shopping, several others have signalled their disapproval of the extravaganza in an online protest against aggressive consumerism.
According to analysts, footfall across high streets and shopping centres will fall 4% as fewer shoppers venture out on the US-inspired day to avoid long queues.
Meanwhile, Irish consumers are expected to shell out more than €4m (£2.82m) per hour on bargains today, as part of Black Friday shopping.
Oasis posts profit for first time in three years
Fashion retailer Oasis has returned to a pre-tax profit for the first time in three years as new stores with better-quality dresses and shirts, and fewer discounted items, wooed customers back.
The brand reported 5.4% surge in its sales to £171.9m in the year to the end of February.
The company recorded £5.6m in profit against a £0.3m pre-tax loss last time.