UK Business News

The Guardian reports that UK model maker Hornby have increased annual profits by 17%, with strong sales since switching to new digitally controlled products.
Hornby’s digital Scalextric racing car sets showed strong year on year growth while the digital Virgin Trains Pendolino brought in most revenue, says the report.
Hornby pre tax profits rose to £9million in [...]

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High Street retail sales fell by 0.2% last month, a similar fall to that in March, a smaller decline than had been expected by the City, ruling out the slim chance of another cut in interest rates.
Sales on food and household goods showed some signs of reduction, but these were outweighed by strong demand for [...]

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Marks & Spencers has announced profits of £1bn for the first time in ten years. The high street business has seen its fortunes fluctuate during those ten years but Chief executive Sir Stuart Rose now sees the company as a ‘ strong business in a weak market’ and is confident that M&S will survive the [...]

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Shares in High Street retail group DSG have dropped by 10% as chairman John Browett announced his recovery plan for the company.
Browett says that DSG has not kept pace with changing customer needs and  has promised to ‘transform the very DNA of the business.’
His plans include closing at least 77 of the groups Currys.digital outlets [...]

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Britain’s third largest supermarket chain, Sainsbury’s reported an increase of 28% in profits from last year, but still warned that the market remains ‘intensely competitive’ and that consumer budgets are under pressure.
The figures are in line with City expectations and are the culmination of a three year recovery programme which set a target of increasing [...]

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