Banking group Lloyds TSB estimates that household expenditure of home improvements consumer items totalled £9.5 billion in 2010, an average of £352 per family, compared to £10.9 billion the previous year. Although DIY spending was at a 12 year-low last year, down 0.2 per cent since 2000, the decline in demand for this sector is [...]
Home Retail Group (HRG), homewares, gardens and DIY specialist, has confirmed the acquisition of the failed Habitat business. The deal will see HRG take over the brand, brand designs and intellectual property of Habitat in the UK & Ireland, whilst the Habitat UK website and three of the retailers London stores have also been saved [...]
Research In Motion (RIM) has launched its first ever tablet device in the UK, the Blackberry Playbook. RIM is hoping to challenge the market dominating iPad and others such as the Samsung Galaxy in the fast growing tablet market. Features of the new device include an LCD touch screen, dual HD cameras, 1GB of RAM [...]
According to today’s results, electricals retailer Best Buy’s losses at its UK-based ‘Big Box’ stores have increased by more than £40 million over the last year. Best Buy UK is a 50/50 joint venture between telecommunications company Carphone Warehouse (CPW) and the North American firm. It reported earlier today a EBIT decline of £62.2 million [...]
Nissan unveiled plans yesterday to build the next version of its popular Qashqai model in a move that will help safeguard thousands of jobs. The decision means an investment of £192 million and was a “major endorsement” of the quality of British-made products and of its factories and workers, said the Japanese car giant. The [...]
Steve Jobs, Apple CEO, has unveiled yesterday the company’s cloud service offering iCloud, which may affect negatively high street music retailers in the UK. The product potentially allow people to stream Apple-hosted music to various devices like computers, smartphones or touchscreen tablets. Companies such as ailing entertainment retailer HMV, which has issued profit warnings this [...]
According to the High Street Sales Tracker from business advisory firm BDO, sales of homeware items fell seven per cent year-on-year in May. All retail sectors during May felt the decline in trade for DIY items and other household goods, but overall like-for-like (LFL) sales were relatively flat, dropping just 0.1 per cent compared to [...]
Carpetright, carpet and flooring retailer, has announced the departure of Christian Sollesse, its Managing Director (MD) for the UK & Ireland. Sollesse’s exit comes as part of a major boardroom reshuffle after sales in the UK fell 6,3 per cent in the 11 weeks to mid-April and three profit warnings were made in 2011. Andrew [...]
Topps Tiles announced today a small rise in like-for-like (LFL) trading but a slight fall in profits for its last half-year period. An interim management statement shows LFL revenue for the retailer increased 1.8 per cent year-on-year in the 26 weeks to April 2nd 2011, but total sales growth dipped 2.5 per cent over the [...]
Saab is looking for a lead agency to handle its estimated £70 million global advertising account. The Swedish car brand has issued an RFI to agencies with a view to appointing one to create global ads that can be adapted to local markets. According to reports in the Swedish press, the previous agency Lowe Brindfors [...]
After administrators confirmed yesterday that the remaining stock of failed retailer Focus DIY is to be liquidated, around 3,000 retail jobs in the UK will be lost. Ernst & Young (E&Y) has been offloading the home & DIY specialist’s property portfolio, but around 120 stores have remained unsold. Restructuring firm Gordon Brothers has been appointed [...]
Halfords, bicycle & car parts retailer, reported last Friday a rise in both sales and bookings for its new autocentre business launched in February. After purchasing 240 sites from Nationwide Autocentres in February 2010 for £73.2 million, Halfords launched its auto repairs business earlier this year. Sales at Halfords Autocentres have improved substantially at these sites, [...]
Connect by Hertz, which is a global car-sharing club, has announced the signing of a 3-year deal with leading home improvement and garden centre B&Q. The car-sharing program brings short-term, self-drive van hires to customers. Before the agreement was signed, the companies piloted the scheme for 23 weeks at 7 stores with success, and now [...]
A new tax being imposed on Chinese ceramic tile imports by the European Union will hit UK home & DIY retailers hard, according to the British Retail Consortium (BRC). Coming into effect on Saturday March 19th, duties of between 30 and 70 per cent have an impact on the dockside price paid on importers of [...]
The prices and availability of electrical items may be affected by the earthquake and tsunami which have caused devastation in Japan, it emerged today. International market research firm iSuppli has warned that leading Japanese factories, which produce vital parts of some of the world’s favourite consumer electronics products, will now face huge supply chain disruption. [...]
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