Newspaper retail round up

A round up of retail stories from the past week… supermarkets, Ocado, BRC, Iceland, East

Supermarket chains can help regenerate poor locales

Big supermarket chains help change poverty-stricken communities, according to a report from think-tank Demos, by restoring pride and providing jobs and low cost food.

Ocado customers have chance to buy a stake

Shoppers who have spent £300 or more with Ocado this year will be eligible to buy shares if the company floats in July.

BRC sees shoppers return to high street

British Retail Consortium reports retail sales up 0.8% on a like-for-like basis compared with May 2009 in its latest data. May 2009 was down 0.8%. Total sales were up 3% compared with a 0.8% rise in May last year.

Iceland continues to deliver growth

Iceland posted revenue sup 11% to £184.2m in the year to March 26, delivering a fifth year of strong growth. Like-for-like sales were up 4.3%.

From The Guardian

Retailers anxious over VAT rise

The British Retail Consortium has expressed fears that raising VAT to 20% could cost the economy 163,000 jobs and reduce consumer spending by £3.6 by over four years.

From The Independent

Fashion retailer East back in the black

East, the retailer in which Luke Johnson has a stake, has posted a pre-tax profit of £2.1m for the year to January 31. This compares with a loss of £1.7m the previous year.

From The Daily Telegraph

Recommended

Comments

    Leave a comment