Retail
FeedPick of the early morning news
Helen Fowler
Mar 11th 2010
Filed under: Markets, Financial Crisis, News , Retail
Even a recession cannot dull the national appetite for beer and fun, as pub chain JD Wetherspoon proved today. The firm announced record first half profits of £36.2m from its estate of more than 700 pubs, up more than 40% on the previous year.Unveiling its results, Wetherspoon criticised government attempts to reduce drunken behaviour. "The crackdown on pubs may actually exacerbate the problems of binge drinking," said the firm. "It has resulted in more drinking, especially by young people, in the unsupervised environments of parties, streets and parks."
How Floyd found dark side of the net
Helen Fowler
Mar 10th 2010
Filed under: News , Technology, Retail
They were at the forefront of musical innovation for decades. The band that pioneered psychedelic music in the 1960s. They introduced us to rock music in the 1970s. They redefined album cover art.But the era of on-line music is presenting challenges for Pink Floyd, as for many in the industry. The band has taken EMI, its record label since 1967, to court in a dispute over the calculation of royalties for sales over the internet.
UK consumers back to buying
Omotola Akerele
Mar 9th 2010
Filed under: Financial Crisis, News , Retail
Retail sales shot up again during the month of February according to latest figures from the trade group British Retail Consortium (BRC).UK retail sales values were up 2.2% on a like-for-like basis last month compared to February 2009, when sales had dropped 1.8%. On a total basis, sales rose 4.5% against only 0.1% growth during the same period last year.
£250m dividend for Matalan boss
Adrian Holliday
Mar 8th 2010
Filed under: Debt, Banking , Retail
Controlling shareholder John Hargreaves of Matalan is to pay himself a £250m dividend. Sixty-six year old Hargreaves regularly receives generous dividends from his company – but a £250m pay-out certainly errs on the side of generous.Hargreaves attempted to sell his budget 200-store homeware chain earlier this year. However Hargreaves, who took the company private in 2006, and several investors couldn't agree to a sticker price.
Serious play: Lego builds £1.4bn in sales
Adrian Holliday
Mar 5th 2010
Filed under: Company, Retail, Creative industries, Leisure & hospitality
Brick by brick, Lego has become the UK's third biggest toy-maker. Last year Lego built up its UK market share to 4.6%. Lego also managed to build up its global market share too to 4.8%.It's an especially impressive achievement in a very tough sales market. Just look at the figures globally: revenues soared to nearly £1.4bn from £1.01bn the previous year.
Primark poaches M&S ethics exec
Adrian Holliday
Mar 4th 2010
Filed under: Markets, Budget 2010, Retail
Primark may be loved by canny discount-hunters. But flogging rows of hoodies and cargo shorts made in Bangladesh's teeming sweatshops have not endeared it to ethical shoppers.That's why, perhaps, M&S' Libby Annat has been persuaded to sign up as Primark's new ethical trade manager. Ms Annat will be a busy lady. In 2005, Primark scored just 3.5 out of 20 on a range of ethical criteria.
Most generous region revealed
Helen Fowler
Mar 3rd 2010
Filed under: Economy, Small Business, News , Retail, Leisure & hospitality
The Welsh are most likely to tip in restaurants, while the English are least likely. Despite their dour reputation, Scots are most likely to tip all the time. Those shy Northern Irish are most reticent in asking who gets the tip.Just some of the statistics from a government campaign launched to promote better transparency in tipping. Nearly four in five consumers (79%) tend to tip, according to figures from the Department for Business, Skills and Innovation (DBIS). But only a fifth of them ask what happens to their tip (21%), something the government is campaigning to change.
An ethical business behaving badly
Chris Wheal
Mar 3rd 2010
Filed under: Company, Financial Crisis, Retail
Ethical fashion house Ascension has started paying long-overdue bills to other ethical and Fairtrade suppliers on the promise of advanced cash from its buyer, entrepreneur Luke Heron.The firm and its parent Adili, is to be sold for £1 after shutting its warehouses to new deliveries and refusing to pay monies owed as it faced liquidation. It just goes to show that even ethical businesses have to behave badly sometimes.
UK consumer confidence in new surge
Adrian Holliday
Mar 3rd 2010
Filed under: Debt, Economy, Job Focus, Retail
It's pretty confusing out there. Just a few days ago Nationwide told us house prices took a hit in February. Yesterday we reported that fewer UK workers could expect a payrise this year. Now we have Nationwide telling us that UK consumer confidence reached a two-year high last month. Apparently there was a lot of excitement over our 0.1% crawl out of recession. Are things actually getting better?
Ten warnings on consumer rights
Helen Fowler
Mar 1st 2010
Filed under: Retail
Many of us are confused about where we stand in terms of our consumer rights. Unfortunately, that confusion leaves many of us vulnerable to getting ripped off.Some retailers will not hesitate to take advantage of consumer ignorance by denying shoppers the refund or replacement they deserve. Aware of this, the government is promoting awareness of consumer rights. Here is a list of tips, courtesy of the Department for Business, Innovation and Skills, to help you get a fair deal.
Online companies ignorant of data laws
Guy Clapperton
Feb 27th 2010
Loads of online companies are breaking the law with their marketing claims an allegation from moderation company Tempero.Tempero claims a stunning 81% of them don't know enough about laws relating to marketing through social media. They are therefore ignoring such laws and going ahead anyway.
Harry's nut gives farmers Liberation
Chris Wheal
Feb 26th 2010
Filed under: Retail
Today, the board of the International Nut Producer Co-operative (INPC) will meet. It was set up in 2007 so that Comic Relief money and cash from Scottish philanthropist Tom Hunter's foundation could buy farmers a 42% stake in the newly established Fairtrade firm Liberation.Generosity like this is often hard to believe. In fact Liberation's biggest problem is that nobody believes that Harry Hill, who promotes Liberation's own-brand nuts, gives all his time and effort for free because he supports Fairtrade (and loves nuts). It is time to give credit where credit is due.
Opening new shops for Indian workers
Chris Wheal
Feb 24th 2010
Filed under: Retail
At the first sign of recession, the first thing Fairtrade cotton products maker Bishopston did was buy and open a new shop - its fifth - this time in Malmesbury. Its whole reason for being is to provide a market for its Indian craftspeople so it needed to replace lost wholesale orders from other retailers.Bishopston has seen a 25% drop in turnover this year and made a small loss, but opening a shop was still a priority. It was better to keep selling goods and paying the sewers, embroiderers and cutters so they keep production up ready for the economic upturn. That is fair trade economics.
Energy costs fall but do providers profit?
Adrian Holliday
Feb 23rd 2010
Filed under: Economy, Personal Finance, Energy, Retail
Energy wholesales prices have plummeted in recent months. Yet gas and electricity prices for most UK consumers have not. It's now estimated that many energy companies are making more than £100 profit per customer.That's about a 40% rise in the last three months thanks to the extended, extraordinarily cold winter. Energy and climate change secretary Ed Miliband has demanded meanwhile that suppliers slash prices. But should energy companies be cutting prices really?
Sierra Leone's war on poor cocoa
Chris Wheal
Feb 22nd 2010
Filed under: Small Business, Markets, Retail
The Ghanian cocoa farmer-owned Fairtrade chocolate company Divine has bought the first ever "noble"-grade Fairtrade cocoa from Sierra Leone after helping locals improve cocoa quality and set up the farmers' co-operative.This is getting to the heart of fair trade. Fair trade is not just about sticking a fancy marketing label on products, but about changing the lives of workers around the world. In this case they have got farmers to improve the quality of their cocoa so the finest chocolatiers can use it.
Economy doing worse than suspected?
Coutts AIG bond row may end in court
