Next defies Christmas fears with online sales boost but outlook remains cautious amid Brexit uncertainty January 3, 2019 Next has opened the crucial post-Christmas trading update season by reducing its full-year profit expectations, but defied investor worries by increasing sales. The retailer said full-price sales for the festive period were up 1.5 per cent between 28 October and 29 December, in line with its expectations. Next reported a 14.9 per cent increase in online [...]
Why 2019 will not mark the death of the high street January 2, 2019 When HMV went into administration in 2013, disgruntled employees used the retailer’s Twitter account to give live updates of the “mass execution” at the beleaguered music firm. However, ahead of last week’s announcement that the the 97-year-old business was collapsing for a second time, passwords for all its social media accounts were changed to avoid [...]
Sausage roll-out: Greggs launches vegan version of pastry treat January 2, 2019 Pastry-loving vegans have cause for celebration tomorrow as Greggs the bakers rolls out a plant-based version of its most iconic snack. Vegan sausage rolls will be on sale in 950 Greggs shops from tomorrow in time for the Veganuary campaign which encourages people to cut out animal products in January. The rolls have 96 layers [...]
What do a scarecrow, a five foot chocolate Easter bunny and a glass eye have in common? January 2, 2019 Budget hotel brand Travelodge said today that weird and wacky items customers had left behind in its rooms last year included a blue eyed cockatoo called Brexit, a five foot teddy bear made of popcorn and a doggy throne. The hotel chain said pet owners had been particularly forgetful with three butterfly tail fish named [...]
Greenwoods becomes latest retailer to close amid high street gloom January 2, 2019 Northern menswear shop Greenwoods has become the latest retailer to close its doors amid tough trading conditions on the high street. The Yorkshire-based chain, which was founded in 1860, has fallen into liquidation with the loss of more than 100 jobs, just 18 months after it was bought out of administration. A notice posted on [...]
John Lewis ends year on a high as sales are boosted by last-minute Christmas shopping January 2, 2019 John Lewis reported a rise in sales during the last week of the year as shoppers rushed to buy last-minute Christmas gifts and cash in on sales. Total sales for the the department store chain were up 4.5 per cent for the week ending 29 December, compared with the same period last year. The company [...]
Michael Kors renamed Capri Holdings after $2bn Versace acquisition January 2, 2019 Michael Kors has completed the $2bn (£1.58bn) acquisition of Italian designer Versace, the US fashion brand confirmed today. Following the acquisition, Michael Kors Holdings has been renamed Capri Holdings and will trade on the New York Stock Exchange as CPRI. John Idol, chairman and chief executive of Capri Holdings, said: “Versace has long been recognised as [...]
Debenhams share price plunges as investors fear disappointing Christmas trading January 2, 2019 Shares in Debenhams plunged almost nine per cent this morning amid fears of poor trading over the festive period. The department store chain saw its share price tumble to 4.68p on the first day of trading in 2019, ahead of an update due on 10 January. The sliding shares suggest investors have low expectations for [...]
Iceland to fight £21m claim that it pays staff less than the national minimum wage January 2, 2019 Iceland could be hit with a £21m fine after HM Revenue and Customs ruled that its Christmas savings scheme technically results in staff being paid less than the national minimum wage. The supermarket disputes the finding, which relates to a scheme whereby the company allows employees to voluntarily set aside money from their weekly wages over [...]
Luxury slippers brand Mahabis falls into administration January 2, 2019 Upmarket footwear brand Mahabis has entered administration after four years of trading, the company has confirmed. The luxury slippers maker called in administrators KRE on 27 December, despite selling almost 1m pairs of slippers in more than 100 countries. Mahabis described itself as “desperately disappointed” at the news. The online retailer – which targeted millenials [...]
