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Fashion retailer Bonmarche, part of the collapsed Peacocks Group, has been purchased for an undisclosed amount by private equity firm Sun European Partners. However, the acquisition could lead to around 1,400 redundancies. Sun European Partners, which bought all except three of Bonmarche’s stores, has revealed that 230 stores will remain open but around 160 will [...]
(Read More)23rd Jan 12
UK retail sales rise in pre-Christmas boost
by Paul Russell
High street sales promotions helped UK retail sales volumes grow in December, revealed official figures, as shops battled for hard-up customers during the lead-up to Christmas. Month-on-month growth in retail sales volumes of 0.6 per cent was recorded last month, reported the Office for National Statistics (ONS), compared to a revised decline of 0.5 per [...]
(Read More)20th Jan 12
Tesco in effort to win back customers
by Paul Russell
Tesco is heavily promoting its offer to lure consumers back to its check-outs after admitting that its previous campaign to win shoppers had fallen flat. The UK’s biggest retailer has been promoting its latest deal in full-page newspaper adverts. The deal promises to give £5 off your next purchase if you spend £40 or more [...]
(Read More)17th Jan 12
Tesco investors question the sale of executive shares
by Katie Naylor
Tesco shareholders have said that the retailer needs to change its rules to make sure there is no repeat of the director’s share sale, the controversial move which emerged last week. The UK’s biggest supermarket was criticised after a senior executive of the group sold 50,000 shares only a few days before Tesco published its [...]
(Read More)13th Jan 12
Tesco warns on profits as shares tumble
by Adam Richards
Tesco shares dropped by as much as 15 per cent after Britain’s largest retailer issued a profits warning and revealed disappointing sales figures for the Christmas period. Like-for-like sales – those at stores open one year or more – increased by 1.7 per cent, excluding fuel, during the six weeks ending 7 January. Excluding VAT [...]
(Read More)12th Jan 12
Sainsbury’s vows to extend price matching campaign
by Adam Richards
Supermarket giant Sainsbury’s has vowed to extend its price matching campaign as it revealed better-than-anticipated sales in the lead-up to Christmas. The UK’s third biggest grocer saw like-for-like sales before taking fuel into account grow by 2.1 per cent over the 14 weeks ending 7 January, with customer transactions during the week before Christmas rising [...]
(Read More)10th Jan 12
Morrisons gains customers but sells less
by Harry Oldfield
Supermarket chain Morrisons has cautioned that consumers tightened their belts over the Christmas period, as it delivered disappointing trading figures and said tough times were ahead in 2012. In spite of winning 800,000 extra customers per week during the period, it sold fewer products than at the same time last year, and many shoppers traded [...]
(Read More)10th Jan 12
HMV remains upbeat despite Christmas sales decline
by Adam Richards
Entertainment group HMV has insisted that it will survive – despite reporting a further decline in sales during the run-up to Christmas. The retailer, which owns 252 outlets in the UK, said that its plans to focus on technology items, by refitting shops with an extended range of gadgets, saw like-for-like sales in the group [...]
(Read More)9th Jan 12
M&S to announce weak Christmas clothes sales
by Adam Richards
Marks & Spencer is likely to add to the gloom surrounding the high street by announcing weak clothing sales for the Christmas period. The figures, due to be released on Tuesday, will give the biggest guidance to date of festive trading as it is the sector’s bellwether, with over 700 stores in the UK and [...]
(Read More)16th Dec 11
Aldi and Lidl top survey of customer satisfaction
by Katie Naylor
Low-cost supermarkets Aldi and Lidl have outperformed more high-end rivals such as Marks & Spencer in a yearly supermarket satisfaction report. The survey, conducted by consumer group Which?, placed Waitrose on top of the pile for the third consecutive year, receiving a total of 83 per cent for satisfaction and praise for its products and staff. [...]
(Read More)