Tesco sales hit by petrol costs
The high cost of petrol has affected Tesco’s sales as shoppers spend more of their budget on fuel.
Profits soar at Majestic Wine
Profits at Majestic Wine increased 117% boosted by sales of wines costing more than £20 a bottle.
Selfridges named world’s best department store
London based luxury department store Selfridges has been named the best department store in the world, beating Bloomingdale’s in New York.
Free from food ranges show sharp growth
“Free from” food ranges aimed at people with food intolerances are the fastest growing category, according to supermarkets.
Tesco looks to buy South Korean chain
Tesco is in talks to buy South Korean supermarket chain Kim’s Club Mart, as part of its ambitious international strategy.
From The Telegraph
Figleaves bought by rival
Online lingerie retailer N Brown has bought rival underwear and swimwear retailer Figleaves in an £11.5m deal.
Tourists spending in London on the rise
London retailers benefited from tourists taking advantage of good weather and the strong pound in May.
From The Times
Burberry reports record profit
As Burberry reports record profits its chief executive has been rewarded with a maximum bonus of £1.8m
All Saints hits New York
UK clothing retailer All Saints has opened its first store in New York taking more than $1m in its first two weeks – more than Topshop did in its first weeks in New York.
Tesco chairman to stay on
Tesco chairman David Reid has pledged to stay on at the chain for a further 18 months to maintain boardroom stability at Britain’s biggest retailer.
From The Guardian
John Lewis reports growth boosted by World Cup
Total sales at the department store were up 17.9% to £53.9m for the week ending June 5 as the hot weather boosted demand for TVs, barbecues and football shirts ahead of the World Cup.
Click and Collect brings online to the high street
Click and Collect services such as those offered by Argos are proving popular with shoppers and allowing online retailers to establish a presence on the high street.
Clarke to replace Leahy at Tesco
Philip Clarke is to replace Sir Terry Leahy at the helm of Tesco, when the CEO retires in March. Clarke has risen trough the ranks of Tesco since joining more than 30 years ago.
England final will boost high street
Retailers are expected to get a huge boost in sales if England makes it to the final of the World Cup.
Argos sales suffer
Home retail group has reported an 8% fall in sales at catalogue retailer Argos, citing a drop in demand of video games and televisions.
From The Financial Times
US retailers reported an unexpected fall in sales during May, the first drop in eight months.
From The Independent on Sunday