Shoe Zone shares soar as retailer posts record profits January 9, 2019 Shares in discount footwear Shoe Zone soared more than 10 per cent this morning on the news that the group had secured its highest profit since it floated in 2014. The figures Profit before tax increased 18.4 per cent to £11.3m for the year to the end of September, up from £9.5m in 2017, and [...]
Mothercare sticks to guidance despite falling UK sales January 9, 2019 Mothercare sales plunged in the three months to mid-January, it told investors today, though the business remains on track to deliver on its full-year guidance. Like-for-like UK sales dropped by 11.4 per cent over the parent and baby chain’s third quarter as it blamed “challenging trading conditions” as well as its programme of store closures. [...]
Sales slip at Topps Tiles but boss hails robust result in tough retail climate January 9, 2019 Sales at Topps Tiles slipped 1.4 per cent in the 13 weeks to 29 December compared to the same period last year, the tile retailer said today. Despite the sales decrease its chief executive Matthew Williams hailed Topps' robust performance. “Against a challenging market backdrop and a strong period of performance in the prior year [...]
Cherry on the cake: Greggs shares rise as baker lifts profit outlook for third time in a year January 9, 2019 Greggs is on a roll, seeing off problems in the food sector which have hit competitors to up its profit guidance for the third time in less than a year today. The chain said it now expects 2018 profits before tax of £88m, up from predictions of £86m in November. The Newcastle-founded baker is celebrating its [...]
Regal results for Majestic Wine despite UK retail headwinds January 9, 2019 Majestic Wine uncorked 6.8 per cent revenue growth over the Christmas period but warned that retail trading conditions remain tough. The wine retailer, which said nearly a third of its sales come around Christmas, also boosted gross profit growth to 8.2 per cent. It said it remains on track to deliver full-year profit figures that are “broadly [...]
Ted Baker posts Christmas sales rise despite chairman harassment investigation January 9, 2019 Ted Baker today reported double-digit sales growth over the festive period as it proved resilient to retail fears and an investigation into its founder. The fashion brand said retail sales increased by 12.2 per cent in the five weeks to 5 January compared to the same period last year. The growth was spurred on by [...]
Sainsbury’s suffers Christmas sales slowdown as Black Friday hurts the supermarket January 9, 2019 Like-for-like sales at Sainsbury’s fell by 1.1 per cent over the Christmas period, the supermarket said today. Total sales excluding fuel dropped by 0.4 per cent in the 15 weeks to 5 January, while general merchandise sales fell by 2.3 per cent and clothing by 0.2 per cent. Read more: Aldi sales hit £1bn in record Christmas [...]
Sears set to liquidate assets as it rejects chairman’s $4.6bn takeover bid January 8, 2019 US department store Sears could face liquidation today after failing to reach an agreement over a proposed takeover bid by chairman Edward Lampert. Sears, which also owns low-cost retailer Kmart, will ask a bankruptcy judge today if it can proceed with liquidation, Reuters reported, citing sources close to the matter. The struggling chain, which filed [...]
Wework to rebrand as The We Company in business structure overhaul, turning its eyes to fintech January 8, 2019 Shared workspace provider Wework is rebranding itself as The We Company, as the firm aims towards a more diversified business portfolio. To be announced at an internal company conference later this week, The We Company will become the parent to several offshoots, including Wework as its main office provider. Others include its residential unit Welive, and an [...]
John Lewis enjoys sales boost after strong Christmas performance January 8, 2019 John Lewis has doubled down on a positive festive period after reporting double-figure sales growth over the last week. The department store chain said total sales for the week to 5 January were up 11.2 per cent on the same period last year, thanks to its post-Christmas clearance. The figures were driven by soaring menswear [...]