Burberry, the British luxury fashion house, has released its third quarter results: Like-for-like sales in store increased 1% impacted by COVID-19-related disruption in Mainland China Mainland China sales fell by 23%. Excluding Mainland China, sales grew 11% Near and medium-term targets unchanged – targeting high-single digit revenue growth and rising margins Charlie Huggins, Head of Equities at Wealth Club, commented: “Covid-19 related disruptions have impacted Burberry’s performance in China this quarter, with sales falling by 23%. But elsewhere, performance is more encouraging. As pandemic restrictions in China ease, sales should improve. Looking to the medium to longer term, Burberry’s success will hinge on the success…
Author: News Team
Leading HR provider the HR Dept has more than doubled the size of its team in the past 12 months, following a 50 percent increase in business, thanks in part to the successful rollout of two new services. The HR Dept Swindon, North Wiltshire and East Cotswolds, and its sister company that covers London and is also run from Swindon, has taken on seven new team members and is recruiting for three others. The recruitment drive is in part down to the success of the HR Dept’s growing recruitment arm of the business, as well as its new fully-outsourced human…
GDP growth of 0.1% in November. This follows GDP growth of 0.5% in October. World Cup gives a boost to consumer spending. A strong services sector has helped the economy avoid an expected decline for November. Services up 0.2%. Jonathan Moyes, Head of Investment Research, Wealth Club “A modest 0.1% growth in GDP flies in the face of a sustained decline in business confidence surveys through the second half of 2022. Many will be taken by surprise by today’s announcement. We have seen retailers report stronger than expected earnings reports for Q4 over the past week, and it appears a…
Sainsbury’s, the UK’s second largest supermarket, has announced a third quarter trading statement: Like-for-like sales (excluding fuel) up 5.9% Retail free cash flow expected to be around £600m, ahead of previous guidance of at least £500m Profits for the year expected to be towards the upper end of previous guidance range of £630m to £690m Charlie Huggins, Head of Equities at Wealth Club, commented: “This is a solid performance from Sainsbury’s with the group raising its profits and cash guidance for the year, against an intensely competitive market backdrop. It seems that UK shoppers indulged in one final sales splurge in…
Supermarkets have raised the price of value range food items at the fastest rate, new data reveals, impacting the poorest across the nation the most. Supermarkets are increasing the price of basic items while reducing more expensive items, according to an analysis by price intelligence company Skuuudle. In the biggest study of its kind Skuuudle tracked the cost of almost 19,000 items in UK supermarkets on a daily basis from July to December and found that items originally below 75p accelerated at the fastest rate. These items include many supermarket value range products including biscuits, chocolate, snacks, oils, rice, pasta, cans and…
Rising energy prices have left businesses struggling to front additional operating costs and keep lights and heating on in offices throughout the majority of 2022 and into the start of 2023. In response to the energy crisis, the Energy Bill Relief Scheme was unveiled in September 2022, capping wholesale electricity and gas unit prices at £211 per MWh and £75 per MWh respectively. The scheme commenced on the 1st of October 2022, ending on the 31st of March 2023. A NerdWallet survey found that almost half (45%) of business owners were concerned about business closure due to the energy crisis, with just…
Credit cards have changed how people shop by enabling easy access to credit. You might have credit cards from many banks, and using a card to pay for goods or services is standard practice for everyone. You can find a variety of credit cards offered by practically all banks and financial institutions. They are recognized as a form of payment at every establishment that provides you with goods or services. Credit cards can be used to pay for various expenses, including food, clothing, movies, utility and phone bills, and much more. There are several credit card benefits in India, but…
Shoppers are being advised to buy big if they want to avoid price hikes on eggs this winter – with the cost of very large eggs rising at a slower rate than medium ones. Experts from price intelligence company Skuuudle have revealed new data which tracks the rising cost of eggs over the past five months. A box of six medium eggs has risen by 14% while the same number of very large eggs has risen by only five percent according to the data. In the comprehensive analysis of the price of eggs in the UK,…
Mike Collins Mortgage Expert explains what bridging loans are , and how they could be beneficial in the current economic environment. Why a bridging loan can be beneficial in times of high interest rates Bridging loans are loans that have no interest which are usually offered to those who need to access funds immediately. It’s basically a bridge between the incoming debt and credit being made available. The short-term lifeline can help anyone looking to purchase property outright or at auction or to undertake improvements, complete building works and much more – especially when the time is tight. Mike Collins…
Recently the UK branch of Black Banx, a global financial services provider, received a warning from the Financial Conduct Authority (FCA). This warning came after Black Banx was accused of providing a UK phone number on its website, which was regarded as misleading information by the UK Watchdog FCA. The FCA warning was quickly removed after Black Banx legal representatives contacted the Regulator to clarify circumstances. The FCA Link now states “It may have been moved, updated or is temporarily unavailable.” Black Banx has since provided evidence to the FCA that has cleared them of any wrongdoing, and as such,…
