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Dixons retail: Electricals giant’s bullish figures
CURRYS and PC World owner Dixons Retail has assured investors that it is well placed to make a crucial £160 million bond repayment this year after agreeing a new £300m lending facility.
Online demand drives John Lewis
Department store chain John Lewis posted another week of double-digit sales rises, boosted by online demand, but warned that recent wet weather had dampened fashion sales.
‘Ruthless’ plan for turnaround at troubled retail chain Mothercare
MOTHERCARE’S new chief executive vowed to be “ruthless” in tackling the chain’s costs yesterday as a dismal UK performance dragged the retailer to a £103 million loss.
As seen on share–dealing screens: Asos chiefs’ bonus
ASOS bosses pocketed more than £60 million in shares yesterday as profits at the online fashion firm nearly doubled.
Burberry expands: £200m plan to open more stores
Luxury brand Burberry has announced it is to invest up to £200 million opening outlets and expanding existing stores in a number of locations as it continues to defy the retail gloom.
2 commentsHouse of Fraser sales defy economic uncertainty
Retail group House of Fraser, owner of the Jenners department stores, yesterday said its sales were holding up despite economic uncertainty and the unseasonable weather.
M&S looks abroad to drive growth as UK figures disappoint
MARKS & Spencer has set its sights on becoming a “truly international” retailer after reining back its UK expansion plans in the wake of its first drop in profits for three years.
Tesco boss turns down bonus
THE HEAD of the supermarket giant, Tesco, took responsibility for the organisation’s dismal UK trading today by spurning his annual bonus worth £372,000.
Waterstone’s in Kindle deal
WATERSTONE’S yesterday announced a pact with online retailer Amazon to gain a toehold in the digital market.
Irn-Bru defies wet weather
Irn-Bru manufacturer AG Barr has defied the wet April weather with an increase in sales.
High streets hit as cash-strapped Scots shoppers vote with their feet
SCOTLAND’S struggling high streets have been dealt a fresh blow today as figures reveal that the numbers of shoppers north of the Border plunged in the run-up to Easter.
9 commentsThe week ahead: Retailers to reveal just how chilly the climate is
A RETAIL week looms in City results, with Marks & Spencer, ASOS, Mothercare and Burberry among those set to update the market against a tough high street trading backcloth.
Wettest spring on record puts a damper on M&S
THE wettest spring on record and financial turmoil in the Eurozone are set to cast a cloud over annual results at high street retail icon Marks & Spencer this week.
Comment: What is there to ‘like’ about Facebook flotation?
FEW flotations have captured the public’s imagination in quite the same way as Facebook’s first day of trading on Friday. As one observer stated, it was rare for such an event to take place in which everyone has a stake in the outcome.
1 commentMajor retail developments ‘are finished’
PROPERTY experts say the rapid growth of online shopping means the days of big retail developments are over.
2 comments
Weather puts a dampener on sales at troubled Mitchells & Butlers
DRENCHING spring weather and rising food and utility bills dampened sales at Mitchells & Butlers, the pubs group riven by boardroom strife over the past two years.
Jubilee in store: John Lewis enjoys celebrations
JOHN Lewis is enjoying a sales boost amid the run-up to the Diamond Jubilee celebrations, helping it to another double-digit rise in weekly trade.
Scottish Business Briefing - Friday 18 May, 2012
WELCOME to scotsman.com’s Scottish Business Briefing. Every morning we bring you a comprehensive round-up of all news affecting business in Scotland today.
Now French Connection suffers high street woes
THE tough trading conditions afflicting Britain’s high streets were brought into sharp focus today as fashion chain French Connection issued a fresh profit warning and forecast little near-term relief.
Betting on a bubble over rise in Facebook shares
Facebook today faces the prospect of a share price “bubble” with spread betters predicting gains of more than 40 per cent on the opening day of trading.
Asda sales and market share rise driven by pricing policy
Asda, the UK arm of US retailing giant Wal-Mart, yesterday said sales growth accelerated in its first quarter and it won market share as a focus on low prices and a revamped own-brand range appealed to budget-conscious shoppers.
Rasul opts out of ‘bricks and mortar retail’ as he offloads BigOffers outlet
sCOTTISH entrepreneur Shaf Rasul has sold his discount warehouse BigOffers for an undisclosed sum just a year after it opened its doors.
Fewer colds and coughs but Boots has the cure for figures
FEWER coughs and colds over the mild winter and pressure on income from prescriptions failed to prevent Alliance Boots from posting higher profits at its UK health and beauty operations.
1 comment
Greggs warns George Osborne’s ‘pasty tax’ could hit profits and jobs
BAKERY chain Greggs warned on Wednesday that the UK government’s plans to extend VAT to hot takeaway food such as pasties and sausage rolls would have a “material impact” on its sales and profits.
2 commentsVertu Motors sees car market revival
Car dealership Vertu Motors said the UK’s new car retail market has returned to growth following period of decline in 2011, helping it grow profits and revenues.
Retail: April showers wash away hope on the beleaguered high street
April was a washout for Scotland’s retailers, with high street stores today reporting their worst fall in sales for 13 years as the wet weather took its toll.
H&M hit by worst sales for three years
BUDGET fashion retailer H&M yesterday reported its worst monthly sales figures since 2009 as inclement weather and worsening economies in Europe hit demand for spring clothing.
Cold weather and economic turmoil hits April sales at H&M
Yesterday the group said sales in April were also down 1 per cent, while like-for-like sales dropped 10 per cent in the year, in both cases the biggest drop since August 2009.
Discount growth sees B&M creating 200 Scottish jobs
B&M Stores is creating more than 200 jobs in three stores in Scotland, providing further evidence of the strength of the discount sector.
Clock ticks down at Ontario for Goals Soccer bid
The Ontario Teachers’ Pension Plan (OTPP) has until 5pm today to make an offer for five-a-side football pitch operator Goals Soccer Centres.
Far Eastern eye falls on frozen foods company
BIRDS Eye has followed Weetabix as the latest big household brand to attract takeover interest from the Far East.
In with the Brics: spending spree from tourists boosts capital shops
RETAILERS in Edinburgh are cashing in on a boom in the number of visitors from the fast-growing “Bric” economies, who are fuelling a 75 per cent surge in duty-free spending.
Bill Jamieson: Mixed messages cloud the picture
WE’RE reversing. We’re slumping. We’re growing. We’re slowing. It’s a Double Dip. No it’s not. Yes it is.
Pick your way through the maze of conflicting data in the past week and you could go down in a spin with Signpost Sickness.
Retro boutique receives new app-arel
A BURLESQUE boutique in Edinburgh has signed up to become the first shop to test a new smartphone app that allows customers to receive special offers through wireless networks.
Carpetright reshuffles top roles as its founder takes a step back
Carpetright founder Lord Harris, one of the veterans of British business, yesterday announced he will step down as chief executive on Monday but will remain as chairman of the company he set up 24 years ago.
Scotland the weak link at John Lewis
John Lewis yesterday reported another double-digit rise in weekly sales as it escaped the gloom sweeping the high street, but its Scottish stores were among its weakest performers.
Comment: City not carried away despite dividend largesse
THE City, somewhat unfairly, looked a gift horse in the mouth yesterday. BT, riding an earnings recovery from its profit‑warning days, had a troika of good news for its shareholders.
Dixons defies gloom over the UK high street with soaring sales
Currys owner Dixons Retail brought some cheer to the high street yesterday as it unveiled a bigger-than-expected jump in sales thanks to better product line-ups and service.
Sony sales sink after tsunami
Struggling Japanese electronics group Sony slumped to a record annual loss of ¥457 billion (£3.5bn) as supply problems related to last year’s earthquake and tsunami combined with shrinking TV sales led to its fourth straight year of red ink.
Shareholders getting taste for board blood as Pendragon U-turns on bonuses
THE “shareholder spring” stepped up a gear yesterday as an investor rebellion forced car dealer Pendragon to backtrack on plans to award bumper bonuses to its directors, while almost half of Trinity Mirror’s shareholders voted against the publisher’s pay report.
Sainsbury’s chief King calls for government to boost job creation
SAINSBURY’s boss Justin King called for greater “consistency” from the coalition government yesterday to boost job creation as the supermarket giant unveiled underlying pre-tax profits up £47 million to £712m.
Clinton latest big-name casualty on UK’s beleaguered high street
THOUSANDS of jobs are under threat after greeting cards and gifts retailer Clinton Cards became the latest casualty on the UK high street.
1 commentLees Foods buy-out referred to Takeover Panel over broker fees
Shareholders campaigning against the proposed management buy-out of Lees Foods have referred the company to the Takeover Panel over fees offered to the broker recommending the £5.6 million deal.
2 commentsTopping survives rebels’ vote at William Hill
WILLIAM Hill chief executive Ralph Topping, who last week resigned his Scottish Football Association board commitments because of time constraints, narrowly survived a shareholder rebellion over executive pay yesterday.
Nairn’s Aberdeen cookery school has an eye on oil industry
Celebrity chef Nick Nairn is today due to launch an “urban-format” cook school in Aberdeen, creating 12 jobs and representing £400,000 investment.
The Week Ahead: Shareholders have got a taste for executive blood
The “shareholder spring”, which last week saw Aviva’s pay awards rejected by more than half the votes cast at the insurer’s annual meeting, is expected to continue this week as concerns over executive pay hit bookmaker William Hill, consumer goods giant Unilever and advertising group WPP.
Discounts and frozen prices to lure consumers
STRUGGLING retailers are holding back on price increases and offering discounts to lure shoppers as new figures show the extent of the carnage in the high street.
Derek McManus: UK must lead the way in digital developments
IT WAS confirmed last month by the Office for National Statistics that the UK is experiencing the first double-dip recession since 1975.
Consumer watch: Many will struggle to afford care costs for the elderly
ALMOST half of those expecting to fund care for relatives have not thought about how they will be able to pay for it, says Chris Marshall
1 comment
Highlander goes for gold with Olympic merchandise contract
AN OUTDOOR clothing company in Livingston is set to grow its business by 30 per cent this year after it clinched a “transformational” deal to supply merchandise to the 2012 Olympics.
1 comment- Family mourn death of Glasgow ‘fight’ schoolboy
- Rangers takeover: Duff & Phelps threaten legal action against BBC
- Today’s youth not fit to be employed, says car firm Arnold Clark
- Rangers administration: Fans fear Duff & Phelps claims could scare off Green
- Rangers takeover: triple penalty punishment enough, says Johnston
- Alistair Darling leads ‘No to independence’ fight over tea and biscuits
- Scottish independence: SNP flip-flops over Nato
- Scottish Independence: SNP ‘won’t be Yes campaign’s only voice’
- Today’s youth not fit to be employed, says car firm Arnold Clark
- Scottish independence: ‘People here are best qualified to run Scotland’
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Weather for Edinburgh
Saturday 26 May 2012
Today
Sunny
Temperature: 9 C to 20 C
Wind Speed: 16 mph
Wind direction: North east
Tomorrow
Sunny
Temperature: 12 C to 22 C
Wind Speed: 10 mph
Wind direction: North east
