Joules defies retail anguish with growth across the board July 23, 2019 Clothes store Joules this morning announced a double-figures spike in profit despite tough high street conditions. The full-year results will be the last for outgoing CEO Colin Porter, who said the firm was “well-positioned for continued success”. Read more: Joules lures in top Asda director as new chief executive The figures Pre-tax profit rose 14.9 [...]
Has ASOS just issued its third and final profits warning? July 23, 2019 | City Talk By Graeme Evans from interactive investor. With ongoing operational issues aplenty, investor confidence hinges on a belief in stock market adages. Warehouse troubles drove ASOS (LSE:ASC) to a third profits warning in less than a year as the fast-fashion giant slipped even further behind the market value of upstart rival Boohoo Group (LSE:BOO). Shares dived as much as 22 per cent [...]
Fevertree shares go flat as poor weather hits sales growth July 23, 2019 Shares in Fevertree fell more than five per cent in early trading after it said poor weather put a damper on growth in the first half. Read more: Fevertree boss Tim Warrillow quadruples pay package in 2018 The figures Revenue increased 13 per cent to £117.3m in the six months to the end of June. [...]
Off road: Motorpoint share price falls as it warns on profits July 23, 2019 Car dealership Motorpoint’s shares fell 6.5 per cent this morning as it warned half-year profits will fall below the £12m it earned last year. The FTSE-listed retailer blamed “unusually high supply levels” for hurting margins, which means the firm’s half-year profit will drop below last year’s £11.9m. Read more: Car dealership Lookers issues profit warning [...]
Ocado bags sales jump amid decline in supermarket sector July 23, 2019 Ocado has posted a double-digit rise in sales over the last quarter as it defied an overall decline in the supermarket sector. The online retailer boosted its sales by 11.9 per cent in the 12 weeks to 14 July, stealing a larger chunk of the competitive grocery market. Read more: Sainsbury’s sales slip in ‘tough’ [...]
UK retail industry battles ‘toughest ever’ trading conditions July 22, 2019 The health of the UK retail industry is on the brink of falling to record lows as shops battle some of the “toughest trading conditions they’ve ever experienced”. The Retail Health Index, which takes into account consumer demand, gross margins and costs, fell from 77 to 76 in the second quarter, financial services firm KPMG [...]
Ted Baker shares soar as Ray Kelvin considers backing buy-out July 22, 2019 Shares in Ted Baker soared this morning following reports that the luxury retailer’s founder Ray Kelvin would back a private equity buyout of the firm, months after he resigned amid allegations of sexual harassment. The retailer’s share price was up more than 15 per cent after it was reported that Kelvin had made enquiries about [...]
Families feel ‘ripped off’ by overseas holiday costs July 22, 2019 Two-thirds of families felt “ripped off” on their last trip abroad, with the cost of making card payments the biggest annoyance for British holidaymakers. Travellers can be hit with extra charges of around 2.7 per cent for each card transaction while abroad, as well as fees at cash machines. Read more: Heathrow summer strikes threaten [...]
Revealed: 20 purchases that prove money can buy happiness July 22, 2019 They say money can’t buy happiness, but there’s no doubt retail therapy can help boost your mood. Now a survey has revealed the nation’s favourite pick-me-up purchases, showing how Brits like to spend their hard-earned cash over the summer months. Read more: Why families feel ripped off by overseas summer holidays The research, commissioned by [...]
UK households remain cautious on economic outlook, discretionary income and debt levels July 22, 2019 UK households remain concerned about their economic outlook, disposable incomes and debt levels, survey data out today shows. Deloitte’s consumer confidence index for the UK in the second three months to 30 June remained at a minus eight per cent – unchanged from the first quarter – but down four percentage points from the same [...]
