Scottish Business Briefing - Thursday 10 January, 2013
RETAIL
Camera firm Jessops first high street casualty of 2013
HIGH street camera chain Jessops went into administration yesterday, putting thousands of jobs at risk and marking a bleak start to the new year for Britain’s struggling retailers. The firm is the first casualty of a year which analysts have warned could see scores of household names go to the wall (Scotsman).
Sainsbury’s boss warns of tough year ahead as sales growth eases
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Hide AdSAINSBURY’S rang up slowing quarterly sales growth today as its chief executive warned of no let-up in chronic nervous consumer sentiment in 2013. Posting 0.9 per cent like-for-like sales growth, down from 1.9 per cent in the previous three months, Justin King cautioned: “We would expect 2013 to be much like the last two or three years, with relatively low levels of consumer confidence.” (Scotsman)
Tesco reveals improved UK sales growth
Supermarket giant Tesco revealed its best UK sales growth in three years today as the chain’s drive to reverse falling profits gathered pace over Christmas. Like-for-like sales in the UK grew by 1.8 per cent in the six weeks to 5 January after a big improvement in food following last year’s disastrous showing (Scotsman).
FOOD, DRINK & AGRICULTURE
Job cuts help slimmed-down Dawnfresh narrow its losses
Fish farming and processing firm Dawnfresh narrowed its losses last year as it slashed its less profitable operations. The Uddingston-headquartered company, which is chaired and controlled by Alastair Salvesen, made a loss of £4.5 million in the year to 31 March 2012, compared to £6.9m the year before (Scotsman).
INDUSTRY
Construction ‘to contract’ in 2013
The construction industry in Scotland has reported a drop in workloads, according to the Royal Institution of Chartered Surveyors (RICS). The figures for the final three months of 2012 were weaker than many other parts of the UK, which reported an increase in work. The biggest drop in work was in public sector non-housing projects (BBC)
TRANSPORT
Sleeper specials to take to the road as Stagecoach places bumper order
STAGECOACH will spend over £75 million in the coming year on hundreds of additional buses, including ten purpose-built “sleeper coaches” to run on cross-Border Megabus routes in the UK. The transport group’s annual cycle of vehicle replacement includes the special consignment of double-decker coaches featuring airline-style seats that convert into flat beds for overnight journeys (Scotsman).