Marks & Spencer emerges as a winner
Marks & Spencer is set to be revealed as one of the few winners from a challenging festive period for retailers. The firm's strong sales of partywear and more appealing food options have helped drive younger shoppers back to the brand.
Star-studded adverts make an impact
Recent star-studded adverts, including singer Sophie Ellis-Bextor, have played a key role in attracting younger shoppers to Marks & Spencer. The success of these campaigns is expected to be revealed when the company updates the City on its Christmas performance.
B&M also set to perform well
B&M is also expected to have done well during the festive period, with more cash-strapped shoppers opting for cheaper decorations and Christmas presents.
Overall, a tough season for retailers
While Marks & Spencer and B&M are expected to be among the few success stories, figures from the British Retail Consortium show that overall retail sales only rose by 1.7% in December. When higher prices are taken into account, big chains are believed to have actually sold less stuff in the run-up to Christmas.
Superdry and other brands face challenges
Superdry, Doc Martens, and Currys have already prepared for disappointing results with profit warnings made before Christmas. Superdry, in particular, has suffered due to a mild autumn dampening demand for its winter coats. Analysts predict that there will be more losers than winners in the retail sector this year.
Bumper sales expected for Sainsbury's and Tesco
Sainsbury's and Tesco, which will also report this week, are expected to announce bumper sales, thanks in part to food inflation. The two supermarket chains have outperformed rivals Asda and Morrisons in terms of sales growth.
Boeing shares hit by plane incident
Shares of Boeing fell 9% in New York after a plane door blowout on one of its 737 Max planes. The incident, which occurred mid-flight, has raised concerns among investors following previous issues with the 737 Max model. US regulators have ordered a temporary grounding of some 737 Max 9 planes.
Matalan lowers fashion prices
Matalan is investing £35 million in lowering its fashion prices in response to easing inflation. The chain is reducing prices by an average of 15% and passing on savings from falling input costs to customers.
Regulators allow pre-payment meter installations
Regulators have given permission for Scottish Power, Edf, and Octopus Energy to install pre-payment meters in homes. The practice was previously banned after an investigation revealed British Gas workers breaking into vulnerable people's homes. The three companies have met strict new conditions to restart "involuntary pre-payment meter installations".
Papa Johns faces potential closures
Pizza chain Papa Johns could shut down as many as 100 sites due to rising costs in the industry. The company, the UK's second-largest takeaway pizza brand, is considering strategic closures of low-performing restaurants. The restaurant industry has experienced a wave of closures, making it the worst start to the year for the sector, according to Hospitality UK.
Did you miss our previous article…
https://hellofaread.com/money/landlords-face-compensation-orders-for-ignoring-severe-mould/
