Mike Ashley’s Sports Direct has bought half of Game’s esports division and plans to install gaming concessions across its estate. The £3.2 million deal will see the video game retailer hand over a 50 per cent stake of its new Belong esports division to Sports Direct, who now holds a 26 per cent stake in Game. Alongside plans to roll out concessions, which will see competitive video game arenas pop up inside Sports Direct stores, it will provide £55 million of borrowing to Game’s Spanish arm in order to fund the expansion of more arenas.
The chairman of Jarden Corp sold his business to Newell a little over a year ago.
British supermarkets got off to a positive start in 2018, with two separate market share data showing an uptick in grocery sales during what is typically a slower trading period immediately after Christmas. The latest figures from Kantar Worldpanel, published today for the 12 weeks to January 28, show that grocery sales increased in value by 3.4 per cent compared to this time last year. However, January saw customers spend £1.6 billion less in the grocers compared with the record-breaking Christmas period the month before
Aldi has reclaimed its crown as the UK’s fastest-growing grocer, with sales surging 15.1 per cent year-on-year in the latest quarter. The news comes amid the latest grocery market share figures from Kantar Worldpanel, which show overall grocery sales in the UK increased in value by 3.1 per cent year-on-year for the 12 period ending December 3. Hot on Aldi’s heels and the only other grocer to have double digit year-on-year growth is fellow German discount grocer Lidl, which had sales growth of 14.1 per cent
For every dollar lost to fraud this year, retailers have suffered $2.77 in overall losses, up from $2.40 a year ago, according to a new report.
Majestic Wine has posted soaring profits in its half year results, boosted by growth in its Naked Wines division and a turnaround strategy that is starting to bear fruit. For the 26 weeks to October 2, Majestic Wine’s adjusted profit before tax surged to £6.77 million after only achieving £51,000 for the same period last year
Marks & Spencer is set to ramp up is clothing store closure scheme and take it easy with food store openings after it posted a 5.3 per cent slump in profits in its half-year report.
The revenue is up 21.5 percent from a year ago, when Etsy reported sales of $87.56 million.
Notonthehighstreet’s investment drive has led to deepening losses despite a rise in sales. Investments in its digital capabilities and brand positioning during the year to March 31 meant the online retailer recorded a pre-tax loss of £8.6 million compared to the £3.8 million shortfall notched the previous year. Nonetheless, Notonthehighstreet raked in £40.7 million worth of revenue during its fiscal year, a 5.4 per cent increase that was boosted by a double of sales in its experiences division.
Retail sales have fallen at the fastest rate since height of the financial crisis in 2009 through October, according to the CBI’s latest Distributive Trades Survey. 106 businesses were surveyed including 49 retailers and revealing that retail sales, supplier orders and relative seasonal sales had all dropped sharply. Just 15 per cent of retailers reportedly saw sales rise in October while 50 per cent reported a sales drop yielding a rounded balance of -36 per cent, far below expectations of a 23 per cent rise