In the four weeks to 1 January 2005, like-for-like sales at Woolworths were flat against last year, while like-for-like sales at Woolworths Big W declined by 8.0%.
Trevor Bish-Jones, Woolworth’s chief executive said: ‘Although we are disappointed with the sales performance in our retail business, we have made good progress on improving the gross margin and remain confident about the potential of Woolworths and our entertainment businesses.’
House of Fraser also reported a like-for-like performance down 1.3%, compared with the equivalent period last year.
Both retailers predict, however, that pre-tax profits will be in line with last year.
John Coleman, HoF’s chief executive said: ‘We believe that we have delivered a creditable performance in a difficult and challenging retail environment. Tight control of stocks and lower levels of discounting, combined with greater flexibility in our cost base, have offset the financial impact of the lower than anticipated revenues.’
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks
The firm reports 7.6% global fee income growth for the year ending 31 December 2016