The power of free markets can liberate Britain’s high streets January 22, 2019 Change is sweeping across retail, affecting the way we all shop, spend, and interact in our town centres. Most analysts agree that there is currently too much retail space, often in the wrong locations, and that, while our high streets of the future will remain commercial centres, they will look radically different to what we [...]
House of Fraser suffers 60 per cent sales drop in run-up to Christmas January 21, 2019 House of Fraser has reportedly suffered a dive in sales over the crucial Christmas trading season, in a fresh sign of the woes facing the beleaguered department store chain. Year-on-year sales plunged 60 per cent in the 12 weeks to 18 December, according to Kantar Worldpanel figures reported in The Sunday Telegraph. It is the [...]
Mountain Warehouse on track for bumper year of profits as Christmas and Black Friday sales climb January 21, 2019 Outdoor clothing retailer Mountain Warehouse said this morning that it was on course for record full-year profits after reporting a bumper Black Friday and Christmas trading performance. The firm defied the swathe of poor trading results among its retail peers today after saying that sales jumped nearly 12 per cent to £84.7m in the 13 weeks to [...]
Easyhotel sees sales rise but warns of lower margins in the year ahead January 21, 2019 Easyhotel today reported a jump in sales in the first quarter, but warned uncertainty in the year ahead could eat into margins. The low-budget hotel chain said total sales were up 31 per cent in the three months to the end of December, while revenue soared 60 per cent. Read more: Easyjet profits set to soar [...]
Just Eat boss quits in unexpected resignation January 21, 2019 Just Eat chief executive Peter Plumb is to step down from his role at the British takeaway ordering website with immediate effect, the firm revealed this morning. In an unexpected announcement Just Eat said that Plumb is to be replaced after 16 months at the helm on an interim basis by current chief customer officer Peter Duffy [...]
William Hill confirms lower 2018 profits as it comes close to securing £242m Mr Green & Co purchase January 21, 2019 William Hill today confirmed a likely fall in profits for 2018, revealing its bottom line will be 15 per cent down on the year before. Shares dipped by 2.6 per cent in early trading today after falling five per cent when the betting firm first warned of the profit drop last November. Read more: William [...]
Patisserie Valerie keeps shareholders in the dark on future as last ditch talks with banks continue January 21, 2019 Patisserie Valerie’s holding company has failed to shed further light on the future of the troubled bakery chain after announcing this morning talks were still ongoing with its creditors to save the company. The firm was expected to provide an update this morning, after speculation the last week of talks with its banks could spell [...]
Retail property value set to plunge as owners battle online shopping rise January 21, 2019 The value of retail property is set to fall by 15.9 per cent this year as owners and investors battle to tempt online shoppers back to the high street. A total of 62 per cent of major UK property owners and investors said e-commerce businesses such as Amazon are disrupting the commercial real estate industry [...]
Mike Ashley enters talks to buy struggling music store chain HMV and eyes new PR team January 20, 2019 Mike Ashley is looking to strengthen his grip on the high street by entering talks to buy struggling music store HMV while searching for a new communications firm to oversee his expanding retail empire. The ambitious business tycoon, who has bought House of Fraser and Evans Cycles in the past six months, is bidding to [...]