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Retail
Christmas Cheers for Retailers: Tesco (LON: TSCO), Dunelm (LON: DNLM) post strong sales
January 14, 2021 03:18 PM GMT| By Hina ChowdharySummary Lockdowns continue to fuel growth for retailers like Tesco and Dunelm. The retailers recorded huge sales in the run-up to Christmas season, banking upon their online presence. The retail sector always looks forward to the festive s.....
AB Foods (LON: ABF) revenue fell with Primark sales down 30 per cent
January 14, 2021 01:01 PM GMT| By Kunal SawhneySummary Revenue down for the retail segment, but up for grocery, sugar and agriculture The group foresees minimal impact of the post-Brexit changes on its business Revenue of the food processing and retailing MNC Associated British F.....
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Post Brexit scenario: NI food supplies disrupted
January 13, 2021 08:03 AM GMT| By Team Kalkine MediaNorthern Ireland has seen shortages in few food products as retail chains adjust to the post-Brexit arrangements while importing food items from Great Britain. Since December 31, NI continued to remain a part of the European Union’s single ma.....
Kingfisher Plc (LON: KGF) May Beat Profit Expectations on Surge in DIY Demand
January 13, 2021 07:50 AM GMT| By Kunal SawhneySummary As consumers took to do-it-yourself projects during the coronavirus pandemic, the company anticipates a rise in profit. Online sales have emerged as the major driving force behind increased sales. Castorama France and Brico Depot, King.....
BRC-KPMG report declares 2020 as the worst year for UK retail
January 12, 2021 12:26 PM GMT| By Kunal SawhneySummary The BRC trade body published a report on Tuesday depicting a 0.3 fall in the total retail sales The figures indicate the performance of the retail sector for 2020, which is was declared as the worst year since 1995 The report publi.....
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British consumer spending plummeted 2.3% in December: Barclaycard survey
January 12, 2021 08:49 AM GMT| By Team Kalkine MediaSummary Fall in the UK consumer spending of 2.3 per cent YoY for the month of December has been reported by Barclayard Pubs and bars saw the consumer spend drop by 71 per cent, the report said The British consumer spending is said to have .....
Shop Prices in UK continue to slide: British Retail Consortium
January 06, 2021 09:41 AM GMT| By Hina ChowdharySummary UK shops will remain closed amid the third lockdown restrictions. The prices of shops have been declining month-on-month. Online shopping, remote working and lockdown restrictions have weighed down heavily on the showrunners. &nbs.....
Next Plc (LON: NXT) rallies 9% to 5-year high as provisional Q4 online sales jump
January 05, 2021 11:15 AM GMT| By Kunal SawhneySummary Next Plc shares surged more than 9 per cent on Tuesday after the company reported a considerable uptick in the provisional sales in fourth quarter The stock of Next has touched a 5-year high following the massive spike in the share pric.....
Why Tesco (LON: TSCO) is Recalling One of Its Popular Christmas Snacks?
December 24, 2020 11:27 AM GMT| By Hina ChowdharySummary Tesco has recalled one of its Christmas snacks and warned the customers against serious health hazards A batch of Finest Festive Fruit & Nut Selection was incorrectly placed in the Tesco Finest Festive Belgian Dark Chocolate Brazil .....
Frasers Group (LON: FRAS) Withdraws Guidance of A 20-30% EBITDA Improvement
December 22, 2020 11:02 AM GMT| By Kunal SawhneySummary Frasers has withdrawn its earlier guidance of a 20-30 per cent improvement in underlying EBITDA. Shares of UK retailers dropped in the wake of Tier 4 restrictions in London, South East, and East of England. The plight of high stree.....
What Ocado Group Plc (LON: OCDO) is going to achieve with the acquisition of Kindred Systems
December 15, 2020 04:15 PM GMT| By Kunal SawhneySummary Ocado has acquired San Francisco-based robotics company Kindred Systems Since its inception in 2014, Kindred Systems was amongst the pioneers to deploy AI and reinforcement learning to develop a process of handling disparate items The .....
Ocado (LON: OCDO) Raises EBITDA Forecast For 2020 Riding on The Success of Ocado Retail
December 11, 2020 07:10 AM GMT| By Kunal SawhneySummary Ocado Group plc has upgraded its EBITDA forecast for the year of 2020 on the back of the continued success of its joint venture Ocado Retail Ltd, a joint venture of Marks & Spencer and Ocado. Since the launch of the joint venture, t.....
Zalando Co-CEO Rubin Ritter takes a break from professional sphere
December 07, 2020 11:49 AM GMT| By Team Kalkine MediaZalando Co-CEO Rubin Ritter has decided to step down from his position by the next year and concentrate on his personal life instead. He was with the German online fashion retailing major for eleven years along with other two CEOs -- Robert Gentz a.....
Footfall at UK Retailers Remains Weak After lifting of Second Lockdown
December 05, 2020 12:40 AM GMT| By Hina ChowdharySummary Footfall across High Street retail establishments in the UK registered an 87 per cent jump on 2 December compared to the same day the previous week after the second lockdown was removed, The footfall was still 26 per cent lower compared.....
Sainsbury (LON: SBRY) and Asda forgo rate relief as retailers return nearly £2-bn
December 04, 2020 12:39 PM GMT| By Kunal SawhneySummary Sainsbury's, Asda, Aldi and B&M are in line with Tesco and Morrison’s in repaying the business rate reliefs The supermarkets enjoyed a boom in their sales during the summer lockdown but kept availing the government relief Lat.....
Tesco PLC (LON: TSCO) To Repay £585 Million To the Government
December 03, 2020 02:11 PM GMT| By Hina ChowdharySummary Tesco will be repaying £585 million of business rates relief that was provided in the early days of the Covid-19 pandemic The supermarkets have been accused of taking the business rate relief despite enjoying the increased sa.....
Lady Green to Pay £50 Million Into Pensions Deficit of Arcadia Group
December 03, 2020 08:48 AM GMT| By Kunal SawhneyIn a move to bridge the pension deficit gap of Acradia Group, Lady Tina Green has said she would pay £50 million cash, which was not due for another 10 months. Lady Green, the wife of Sir Philip Green, was the official owner of the retail co.....
Debenhams To Shut Shop After Failed Rescue Talks
December 02, 2020 10:59 AM GMT| By Hina ChowdharySummary Debenhams, the 242-year-old iconic retailer, will be liquidated after Christmas Attempts to rescue Debenhams failed when the British sports-fashion retail firm JD Sports pulled out of discussions to rescue the company Debenhams had bee.....
Marks & Spencer (LON: MKS) Extends Activewear Offer After Covid Sparks Fashion Shift
December 02, 2020 12:19 AM GMT| By Kunal SawhneyUK’s leading fashion & food retailer, Marks and Spencer Group Plc (LON: MKS) has reportedly extended its offers on the bestselling activewear this season as a result of a paradigm shift in lives brought by the coronavirus pandemic. As a r.....
Arcadia Fashion Group Working on Contingency Plan to Avert Collapse
November 28, 2020 07:48 AM GMT| By Team Kalkine MediaSummary Arcadia Group said it was working on several contingency options to safeguard the future of its brands Arcadia has been struggling even before the outbreak of the coronavirus, and now the retail firm is seeking financial assistance from.....
