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News Tag: retailers

May 5, 2010

Next profits on track but ‘very cautious’

by Kay Murchie
Fashion chain Next said it had a solid first quarter and is on track to meet full-year profit targets but added: "We remain very cautious in our outlook for the year ahead". Its cautious statement comes as many other companies warn of slow consumer spending after the General Election as the new Government embarks on cutting the UK’s budget deficit. Next, ...

April 13, 2010

UK retail sales continue recovery in March

by Kay Murchie
The British Retail Consortium (BRC) has today revealed the High Street continued its recovery in March with UK retail sales rising at their fastest rate in almost four years. According to the BRC, the rise was boosted by Easter shopping as consumers stocked up on chocolate, food and drink for the Easter weekend. The BRC said the total value of ...

February 23, 2010

US consumer confidence tumbles in February

by Kay Murchie
US consumer confidence tumbles in February
US consumer confidence took a dive in February after the closely-monitored Consumer Confidence Index from the Conference Board fell to a 10-month low of 46, down from a revised 56.5 in January. The index still remains far away from the 90 points required to show that the world’s largest economy is on solid footing. Furthermore, the reading is still below the ...

January 22, 2010

UK December retail sales fall short of expectations

by Kay Murchie
The Office for National Statistics (ONS) has today revealed a disappointing performance for the High Street for the month of December. Official figures showed that UK retail sales rose by just 0.3% in December compared with the previous month. On an annual basis, sales were up 2.1% but both monthly and annual figures were lower than analysts had expected. The annual figure ...

January 14, 2010

Primark sees bumper Christmas sales

by Kay Murchie
Discount clothing retailer Primark joins other major retailers by announcing bumper sales over the festive period. Primark’s parent group, Associated British Foods, said the chain is benefiting from consumers opting for cheaper clothes with sales particularly strong in the UK and Spain. The group said: "Trading results for this period were very encouraging and ahead of our expectations. We expect good revenue growth and ...

January 11, 2010

Peacocks, Poundland, Co-op see strong xmas trading

by Kay Murchie
Peacocks, which operates more than 500 fashion stores across the UK, posted a 17% rise in like-for-like sales on last year's levels in December and early January. Richard Kirk, chief executive, said it had experienced a "cracking Christmas as customers decided they were going to celebrate after a year of doom and gloom". Meanwhile, the good news just keeps on coming for ...

House of Fraser experiences bumper Christmas sales

by Kay Murchie
Department store chain House of Fraser is the latest retailer to report bumper Christmas sales after the company reported that like-for-like sales (which strip out gains from new stores) were 7.1% higher than 2008 levels. The group said it had enjoyed its best ever Christmas week and also saw a Boxing Day sales surge 27%. The department store said sales for ...

January 5, 2010

Next sales beat expectations

by Kay Murchie
Fashion chain Next has today reported better than expected sales figures for the Christmas period. The fashion retailer Next said like-for-like sales at Next Retail were up 3.2% in the 22 weeks to Christmas Eve. Its mail order business, Next Directory, said sales increased by 6.8% compared with a year earlier. As a result, it has now increased its full-year profit forecast to between £490 ...

December 21, 2009

Capital Shopping Centres sees bumper Saturday despite snow

by Kay Murchie
Capital Shopping Centres (CSC), which has stakes in 14 regional shopping centres including the Manchester Arndale, Lakeside in Essex and the Gateshead MetroCentre, said despite the snowfall over the weekend, retailers experienced their busiest weekend of the year. Figures show that shoppers braved the weather after figures revealed that over seven million people have visited the group's centres in the ...

November 23, 2009

Cheque book to be phased out under controversial plans

by Kay Murchie
The use of the cheque book continues to decline as consumers opt for quicker payment methods. Major retailers such as Tesco and Sainsbury's no longer accept cheques, arguing that phasing out the use of cheques in stores resulted in quicker service and improved security for consumers. Under controversial plans being devised by bankers, the cheque will gradually be phased ...

August 3, 2009

LDC report reveals woes for retailers

by Kay Murchie
Research from the Local Data Company (LDC) has revealed the tough times retailers have experienced during the economic downturn. The economic downturn has meant consumers have tightened their purse strings, having a devastating affect on trade. The iconic department store, Woolworths, collapsed under a mountain of debt at the end of last year, while other big names that went bust included furniture ...

June 24, 2009

CBI reports fall in June retail sales

by Kay Murchie
The Confederation of British Industry's (CBI) Distributive Trades Survey has revealed that consumers continue to cut back as retail sales were weak in June. According to the CBI, more retailers said sales had fallen rather than risen, giving a balance of - 17%. The figure was in line with analysts' average forecast but well below its long-term average of +18%, suggesting ...

June 11, 2009

Parents sacrifice glad rags for kids’ designer threads

by David Masters
Parents sacrifice glad rags for kids' designer threads
Dedicated parents are sacrificing looking good in their own glad rags so they can kit out their kids in designer threads. Credit crunched mums and dads are reducing the amount they spend on their own clothes so their children can keep up with the latest fashion trends, new research has discovered. Parents are trading down to low-cost outlets such as Peacocks, ...

March 26, 2009

BRC warns that rents could push retailers out of business

by Peter Charalambous
The British Retail Consortium (BRC) has announced fears that yesterday was the toughest quarterly rents payments day for over 18 years. This is because the start of the year is usually the period where consumer spending is lowest and, coupled with the increased uncertainty caused by the credit crunch, the BRC has lead a campaign to encourage landlords ...

December 29, 2008

Mixed response to post-Christmas sales in the UK and US

by Kay Murchie
As retailers opened their doors after Christmas, shoppers in the UK queued for hours outside shops to grab a bargain. In a bid to entice shoppers into the stores, retailers cut prices by up to 70% in the UK and a record number of stores opened on Boxing Day, sparking a 12.5% increase in the amount of people ...

CIPD: 2009 set to be worst year for employment for nearly 20 years

by Kay Murchie
According to the Chartered Institute of Personnel and Development (CIPD), the first quarter of 2008 could see nearly 300,000 people lose their jobs in Britain, making it the worst year for jobs since the early 1990s. The organisation is warning that unemployment is set to rise even more over the next 12 months, taking the ...

December 21, 2008

Begbies warns of more firms going bust

by Kay Murchie
Insolvency expert Begbies Traynor are warning that more retail chains will go bust before the middle of January. Begbies said it would not be surprised if between 10 and 15 well-known chains did not make it beyond the festive period. Should its warning ring true, then more retail workers will face 2009 jobless. It was announced last week that Woolworths, which has ...

November 25, 2008

BRC: Implementing new VAT rate is ‘mammoth task’ for retailers

by Kay Murchie
In yesterday’s Pre-Budget Report, Chancellor Alistair Darling, announced that VAT is to be cut from 17.5% to 15% from next Monday, December 1, for 13 months While the cut has been welcomed by many, Stephen Robertson, director general of the British Retail Consortium (BRC), said implementing a new VAT rate in just one week will be exceptionally difficult ...

November 13, 2008

Retailers in for challenging Christmas as UK consumers spend less

by Kay Murchie
According to business group, Deloitte, the retailing industry could face ‘one of the toughest in decades’ this Christmas as UK consumers tighten their purse strings. The organisation said the average consumer plans to spend 7% less than last year. In its 14th annual Christmas Retail Survey, Deloitte found that while 24% of UK consumers intend to spend less ...

September 26, 2008

Retailers warn of bleak outlook

by Kay Murchie
A number of High Street retailers are warning of a gloomy outlook as the economy comes under increased pressure. JJB Sports, one of the High Street’s well-known retailers, lost almost half of its market value after reporting a deficit before exceptional items of £9.7 million for the six months to the end of July7, compared with profits of £8.3 million the previous year. ...

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