From around the web and the nationals
NEXT, the high street chain, will be the first major retailer to release a post-Christmas trading statement tomorrow, the first indication of how the high street has fared over the festive period. The chain is expected to comment on how sales have been since Christmas, as well as announcing figures for up to December 24. The Independent reports that analysts from UBS have said that in previous promotional periods Next had been unscathed by holding its full price position.
LULU KENNEDY, the founder of Fashion East, which supports emerging talent at LFW, has received an MBE for her services to the fashion industry in the Queen’s New Year’s honours list. Founder of British brand Biba, Barbara Hulanicki, was awarded an OBE for services to fashion with footwear designer Emma Hope and British Fashion Council’s honorary treasurer Christopher Inman also both receiving OBEs. Donald John MacKay, founder of Luskentyre Harris Tweed, has also been awarded an OBE for services to the Harris Tweed Industry.
A DELOITTE SURVEY of top finance directors has found that more than half expect the UK to fall back into recession this year. The survey found that 54% of finance directors at FTSE 100 companies believe there will be a double dip recession. The break-up of the Euro was highlighted as the biggest threat to companies this year. According to reports in the Independent one director said: “Everyone is waiting for something very bad to happen.”
RETAILERS are increasing the number of days taken to repay creditors, putting pressure on smaller companies supplying the UK’s largest retailers, according to research conducted by The Daily Telegraph. Out of 26 retailers assessed, 15 saw their payment terms worsen with just nine seeing an improvement. Sports Direct, Moss Bros and Laura Ashley were among those improving repayment terms.
HIGH STREET FOOTFALL has fallen in recent days despite an initial flurry of spending on Boxing Day. The number of shoppers on New Year’s Day fell 25.3% on last year, according to provisional figures from Experian Footfall seen by The Daily Telegraph. Figures showed shopper numbers fell 2.5% on New Year’s Eve and, while the slump the following day was in part due to Sunday trading hours, numbers for New Year’s Day were 10% down on two years ago. Shopper numbers rose marginally by 0.75% across last week following a rush into stores on Boxing Day.