Tag Archives: high street

Marks & Sparks profit drops

Marc Bolland, M&SUK high street player Marks and Spencer said its profits fell by 3.9 percent to £623 million, but its CEO claims there’s light at the end of the retail tunnel.

The market in clothes is challenging, said CEO Mark Bolland, but he claimed that M&S had invested heavily over the last three years and group sales rose by nearly three percent to £10.3 billion for its last financial year, to the end of March. more»

Heatwave and summer sales push retail up

highstreet South endJuly retail sales in Britain rose at their fastest pace since January, thanks to summer shopping and the unseasonal heatwave.

According to the Confederation of British Industry (CBI), retail sales hit their six-month high in July. Retailers recorded strong demand for clothing, footwear and just anything related to tropical temperatures. more»

Online retail growth slows

visa-epayAlthough online retail sales are still growing, new research from Mintel has revealed that growth is slowing quite rapidly. The online retail sector expanded by about 50 percent in 2008, but last year growth slowed down to just 15 percent. However, this is still much better than the rest of the retail sector and it means the UK online retail sector will double by 2018, with double-digit growth rates. more»

Morrisons’ boss calls for online sales tax

 morrisons-dalton-philipsMorrisons chief executive Dalton Philips believes the Government should impose a new online sales tax to level the playing field with its rivals and e-commerce outfits. Philips told The Daily Telegraph that the tax imbalance between internet and high street retailers is illogical and it is taking its toll on Britain’s town centres. more»