Retail news

• The Fed comes up with an interest rate cut that will please nobody | Larry Elliott

  31-07-2019 21:00
  Donald Trump has been pushing for it, but the real problem lies with the man in charge – Jerome PowellDonald Trump got less than he wanted. Wall Street was unimpressed. Both the White House and the financial markets see the first cut in US interest rates in more than a decade as a taste of more to come. And they are right.Announcing its quarter-point cut, the Federal Reserve said the decision was warranted by global developments – shorthand for Trump’s trade wars – and mu
  
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• Next bucks high-street trend with better than expected sales

  31-07-2019 17:57
  Shares rise 8% and annual profit forecast is raised by £10m despite damp start to summerNext has shrugged off a damp start to the summer with better than expected sales at its high-street stores.Shares in the company rose more than 8% to £60.76 after it upped annual profit expectations by £10m to £725m as full-price sales rose by 4% in the three months to 27 July. The company had expected a 0.5% fall. Continue reading...
  
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• Intu shares hit record low as rental income tumbles

  31-07-2019 17:45
  Owner of Trafford and Lakeside shopping centres axes dividend as it outlines recovery planShares in Intu Properties, the shopping centre company that owns the Trafford Centre in Manchester and Birmingham’s Merry Hill, have crashed to a record low after it said it might need to raise fresh cash to make up for lost income from retail failures such as House of Fraser and Debenhams.The shares fell 30% on Wednesday afternoon, wiping more than £200m off the company’s market value, af
  
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• Does a local Lidl really bring down house prices?

  31-07-2019 17:29
  Houses near a Waitrose are worth 12% more than average – and now three of its supermarkets have been sold to Lidl. But the discounter’s arrival might not be all bad news …Waitrose has sold off three of its supermarkets to Lidl, sparking a wave of middle-class outrage. It’s not just concern about access to venison meatballs or pistachio ice-cream – residents of Bromley in London, Oadby in Leicestershire and Wollaton in Nottinghamshire apparently fear their house pri
  
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• Next raises profit guidance after strong second quarter

  31-07-2019 16:07
  Online sales jump 12% as British retailer shrugs off high street gloom
  
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• EssilorLuxottica agrees €7bn deal for rival GrandVision

  31-07-2019 16:00
  Deal adds more than 7,200 stores globally to eyewear group but analysts warn of potential antitrust hurdles
  
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• Shoppers' use of plastic bags in England continues to fall

  31-07-2019 14:39
  Sales of single-use bags by big supermarkets have fallen 90% since 5p charge introduced Shoppers’ use of plastic carrier bags in England has continued to fall following the introduction of the 5p charge, according to new figures. Sales of single-use bags by all large retailers in 2018/2019 slumped by 37% to 1.11bn compared with the previous year.Sales of plastic bags by the seven biggest supermarkets – Asda, Marks & Spencer, Morrisons, Sainsbury’s, The Co-operative Group, T
  
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• Intu considers equity raise to ease retail turmoil

  31-07-2019 14:17
  Shopping centre landlord hit by ‘awful’ drop of 18% in rental income
  
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• EssilorLuxottica to buy Grand Vision in €7bn deal

  31-07-2019 10:07
  Acquisition is sign that governance spat at world’s largest eyewear group has eased
  
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• Shopping centre landlord Intu faces swelling losses

  31-07-2019 09:05
  Company says first half of 2019 was ‘challenging’ due to retail gloom
  
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• Shopping centre landlord Intu considers equity raise

  31-07-2019 09:05
  Rental income drops 18% amid turmoil in retail sector
  
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• UK's cherry industry bounces back after 20-year hiatus

  31-07-2019 07:00
  Some supermarkets no longer need to import cherries in summer to meet demandThe UK’s cherry industry, which nearly collapsed 20 years ago, has bounced back with predictions of a bumper harvest this year.Cheap imports and high production and labour costs decimated the sector, but British growers are now set to produce about 6,500 tonnes of cherries – double the 3,168 tonnes picked in the UK last year and the highest for nearly 50 years. Related: Cherries: the finest of all fruits?Cont
  
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• How has Brexit vote affected the UK economy? July verdict

  31-07-2019 07:00
  Each month we look at key indicators to see what effect the Brexit process has had on growth, prosperity and tradeExperts debate the dataBritish consumers keep the UK afloatContinue reading...
  
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• British consumer keeps UK plc afloat as key sectors start to sink

  31-07-2019 07:00
  As a no-deal Brexit looms sterling is starting a steep slide and growth is stallingExperts debate the dataHow the Brexit vote affected UK economy - July verdictThe British consumer is holding up the country’s economic performance but key sectors are showing signs of strain as Boris Johnson threatens to take the UK out of the EU without a deal, according to a Guardian analysis.In a sign of the mounting stress facing the economy, the pound has slumped to the lowest level against the US dolla
  
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• Casino: Jean-Charles Naouri’s last throw of the dice?

  31-07-2019 06:00
  The controlling shareholder in the French retailer is fighting to keep hold of his indebted empire
  
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