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H&M sees profit jump 21% after expansion

Written by MCM News Desk    Thursday, 28 January 2010 16:36    PDF Print E-mail
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Swedish retailer Hennes & Mauritz (H&M) has reported a 21% rise in profits for the three months to 30 November after it opened more stores than expected. Fourth-quarter profit rose to 6.2bn kronor (£524m; $853m), up from 5.1bn kronor a year ago.

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Read more... Last Updated ( Thursday, 28 January 2010 16:57 )
 

Shop Direct plans 1,500 job cuts

Written by MCM News Desk    Thursday, 28 January 2010 16:23    PDF Print E-mail
Shop Direct plans 1,500 job cuts

Shop Direct has confirmed that it plans to close three call centres with the loss of 1,500 jobs.The home shopping group said the three affected sites were in Sunderland, Burnley, and Newtown in Powys. Shop Direct blamed the announcement on the big growth in the number of people choosing to shop online rather than phoning to speak to its operatives.

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Read more... Last Updated ( Thursday, 28 January 2010 16:35 )
 

Waitrose is top of the shops

Written by MCM News Desk    Thursday, 28 January 2010 10:48    PDF Print E-mail
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 Waitrose is the UK’s favourite supermarket while bargain superstores Aldi and Lidl came joint third in a survey from consumer champion Which? *. The ‘big four’ supermarkets – Sainsbury’s, Tesco, Asda and Morrisons – may be where most Which? members did their main shop**, but customer satisfaction scores ranged from just 49% to 58%

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Read more... Last Updated ( Thursday, 28 January 2010 11:13 )
 

JJB Sports chairman to stand down

Written by MCM News Desk    Thursday, 28 January 2010 10:40    PDF Print E-mail
JJB Sports chairman to stand down

 Struggling retailer JJB Sports has said its chairman is to step down on 31 January because of ill health. Sir David Jones - who was diagnosed with Parkinson's Disease in 1982 - had overseen the financial rescue of JJB in the past year. JJB also said the rate of decline in its sales had slowed. Same-store sales were down 21% in January from a year ago, against a fall of 37% in August. For the year to 24 January, like-for-like sales were down 28%.

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Read more... Last Updated ( Thursday, 28 January 2010 10:43 )
 

Pets At Home for £1billion

Written by MCM News Desk    Thursday, 28 January 2010 10:27    PDF Print E-mail
Pets At Home for £1billion Pets At Home has been sold for £1billion - with bosses and staff landing a £53million windfall. The high street chain, with more than 250 shops,is being bought by private equity firm KKR which also owns Boots and Toys R Us. The £955m deal, minus about £450m of debt, will generate a massive profit for Bridgepoint, which snapped up the chain for £230m in 2004.Management, who own a 10% stake, will share a £50m payout which is thought to include about £15m for top boss Matt Davies.
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Read more... Last Updated ( Thursday, 28 January 2010 10:40 )
 

Morrisons names its new chief as Canada morns a loss

Written by MCM News Desk    Thursday, 28 January 2010 09:56    PDF Print E-mail
Morrisons names its new chief as Canada morns a loss

 Former Wal-Mart director Dalton Philips, will replace Marc Bolland, the departing chief executive of Wm Morrison, Morrisons said that Mr Philips, the chief operating officer of Loblaw Companies, Canada’s biggest retailer, would become chief executive in March but said it was still negotiating a leaving date with Mr Bolland, who is waiting to replace Sir Stuart Rose as chief executive of Marks & Spencer.

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Read more... Last Updated ( Thursday, 28 January 2010 10:27 )
 

UK Online retail sales set new record

Written by MCM News Desk    Friday, 22 January 2010 11:01    PDF Print E-mail
UK Online retail sales set new  record

 
The IMRG Capgemini Index broke the 7000 barrier for the first time in December, reaching an all time high of 7099. The UK e-retail market grew a healthy 17% year-on-year, which is higher than the 14% annual growth recorded in December 2008.

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Argos in brand refresh as market share comes under attack

Written by MCM News Desk    Friday, 22 January 2010 10:06    PDF Print E-mail
Argos in brand refresh as market share comes under attack

Catalogue store group Argos will tomorrow unveil a refreshed brand, coinciding with the launch of its latest Catalogue. The company has been under pressure to reinvent itself as Tesco’s, ASDA and other  retail sections invade their  traditional market place in catalogue business. It is no secret that with the event of Tesco and ASDA offering large catalogue books that Argos will have to take off the gloves for 2010. In industry circles the rebrand is seen as better late than never in an effort to rejuvenate and appeal to a younger customer base,  but the larger retailers have stole a march on Argos in adapting a position as true multichannel business.

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Read more... Last Updated ( Friday, 22 January 2010 10:21 )
 

Morrisons leads festive sales

Written by MCM News sesk    Friday, 22 January 2010 09:11    PDF Print E-mail
Morrisons leads festive sales

 
WM Morrison, supermarket chain reported far stronger seasonal sales than its larger rivals but but echoed the same concerns that their larger rivals Tesco & Sainsbury’s that the consumer economy will remain challenging throughout 2010.

Morrisons leads festive sales
Read more... Last Updated ( Friday, 22 January 2010 09:25 )
 
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H&M sees profit jump 21% after expansion

News image

Swedish retailer Hennes & Mauritz (H&M) has reported a 21% rise in profits for the three months to 30 November after it opened more stores than expected. Fourth-quarter profit rose to 6.2bn k...

Latest | Thursday, 28 January 2010

Read more

Shop Direct plans 1,500 job cuts

News image

Shop Direct has confirmed that it plans to close three call centres with the loss of 1,500 jobs.The home shopping group said the three affected sites were in Sunderland, Burnley, and Newtow...

Latest | Thursday, 28 January 2010

Read more

Waitrose is top of the shops

News image

 Waitrose is the UK’s favourite supermarket while bargain superstores Aldi and Lidl came joint third in a survey from consumer champion Which? *. The ‘big four’ supermarkets – Sainsbury’s, Tesco, Asda and M...

Latest | Thursday, 28 January 2010

Read more