Tim Martin says European leaders are determined to put Britain’s consumption of German beer, French champagne and Swedish cider under threat November 2, 2016 The founder of pub giant Wetherspoon this morning slammed the "unelected" EU chief as well as the supporting leaders of Germany and France. Staunch Brexiter Tim Martin, who is chairman of the pub chain, hit out at EU leaders saying that they were determined to hurt the UK. Martin was active campaigning for Britain to leave the EU and signed [...]
Analysts have not gone easy on Next’s “miserable” results November 2, 2016 Analysts have not pulled their punches this morning in reaction to Next's announcement that sales fell 3.5 per cent in its third quarter. Retail Economics' chief executive Richard Lim described Next's sales growth as "miserable", and said that the "conditions on the high street remain desperate". Next's share price has been climbing this morning, however, [...]
Just Eat bumps up earnings guidance though order growth slows November 2, 2016 Warm weather hasn't been a dampener for Just Eat: the online takeaway group bumped up its full-year revenue and earnings guidance on the back of a decent third quarter. The figures Total orders for the third quarter were 33.3m, showing growth of 34 per cent year-on-year (on both a reported and like-for-like basis). UK orders [...]
Next battles tough third quarter with retail sales down nearly six per cent November 2, 2016 What a difference a few months make. In August, shares in Next spiked at the open as it said Brexit hadn't affected consumer spending. For its third quarter, though, total sales were down 3.5 per cent and retail sales were down 5.9 per cent. On the bright side, sales were up in October, while the retailer's sales [...]
Shoppers still love the high street – but want more technology, like VR and smart fitting rooms November 2, 2016 Shoppers still love the British high street experience – but they are craving the introduction of more in-store technologies, like virtual reality (VR), according to a new report. Nearly two-thirds (63 per cent) of consumers prefer to physically see products before buying them and 57 per cent want more technology in-store, such as digital “smart [...]
Amazon has just launched its Black Friday deals store November 1, 2016 Black Friday: it's either a retail Valhalla or your worst nightmare – either way, it's increasingly becoming A Thing in the UK. And now Amazon has launched a kind of pre-Black Friday Black Friday store. Welcome to retail in 2016. The Countdown to Black Friday store is currently only for US customers, and features almost [...]
Black Friday 2016 UK: Here are eight shopping tips and tricks for how to make the most the retail extravaganza, according to the experts November 1, 2016 The retail bonanza-slash-bunfight known as Black Friday is nearly upon us – just under a month (25 November). This year sales "experts" are falling over themselves to give bargain hunters top tips to get the best deals without ending up in hospital/prison/debt. That might sound extreme, but after last year's discount day turned violent, it might be [...]
Kim Jong-un slashes beer prices to get rid of stock November 1, 2016 North Korean dictator Kim Jong-un has cut the price of beer to get rid of excess ale that was bought for a festival in the summer. Demand has soared since Ryongsong Beer’s price was cut in half from 3,000 North Korean won to 1,500, and Taedong River Beer was reduced from KPW 6,000 to 5,000. It is thought that [...]
Luxury firms should stop blaming macro trends for poor sales and become more sophisticated October 31, 2016 The latest batch of earnings reports from the luxury giants were showstoppers – with stunning double-digit gains from Kering, the owner of Gucci, versus no growth from Burberry. The polarised results raise the question: is it time for the luxury sector to move on from a tale of woe after the crackdown on Chinese consumption [...]
Tesco faces £100m damages claim from investors over the overstating of its profits October 31, 2016 Supermarket chain Tesco is facing a £100m damages claim from investors after the firm overstated its earnings in 2014. Bentham Group, which is providing the financial backing for the group's claim, said today that 125 shareholders are involved in taking action against the supermarket when it overstated its profits by £263m. The legal action will seek to [...]