The Business Matrix: Friday 9 January 2015

Ted Baker thrives without a big sale

The upmarket clothing brand Ted Baker posted a 22.8 per cent jump in retail sales this Christmas as women splashed out on partywear and men treated themselves to new suits. The chain, run by the retail veteran Ray Kelvin, said it had had little need for pre-Christmas offers. Online sales rose by nearly 66 per cent.

Bank keeps rate for 70th month

The Bank of England kept interest rates at their record low of 0.5 per cent for the 70th consecutive month yesterday. Despite some policymakers, such as Martin Weale, advocating a small 0.25 per cent rise in the base rate, it is unlikely to happen until later this year at the earliest, economists believe.

Mike Ashley’s USC calls in receivers

USC, the fashion chain owned by Mike Ashley’s Sports Direct, looks set to go into administration, putting up to 1,000 jobs at risk. The retailer’s directors have filed a notice of intention to appoint receivers. USC’s woes follow the demise of JD Sports’ former fashion chain Bank, which entered administration this week.

Search for skills pays off at Hays

Hays, the recruitment firm, said all three of its trading regions – Asia Pacific, Europe and the UK – were now experiencing double-digit net fees growth. In the UK, the figure was 14 per cent higher in the quarter to 31 December, after strong growth in specialisms such as accountancy and finance, construction and IT.

Trainline lines up London float

The rail ticket booking firm Trainline.com has said it intends to join the London Stock Exchange in a flotation that is expected to raise £75m for the business. The offer will include a partial sale of shares by the company’s private equity owners. Trainline was set up in 1997.

New stores help Dunelm growth

The homewares retailer Dunelm has posted a 14 per cent jump in first-half sales to £406m, driven by six new superstore openings. Underlying sales, excluding new stores, rose 6.23 per cent, boosted by its furniture department, which saw a 60 per cent rise to £20m.

N Brown replaces its finance chief

The plus-size clothing retailer N Brown parted company with its finance director yesterday following a tough few months that included a profit warning in October. N Brown said Dean Moore was leaving after 11 years. The company has hired Craig Lovelace to replace him.

Uniqlo’s owner sees sales leap

Japanese clothing giant Fast Retailing posted a 64 per cent jump in first-quarter profits yesterday after a strong performance in its Uniqlo brand. The retailer, which is controlled by Japanese billionaire Tadashi Yanai, plans more stores across the world.

Kitchen specialist Howden stronger

The kitchen supplier Howden Joinery said profits for 2014 will be stronger than the current range of City expectations after total sales at its UK depots rose 14 per cent to £1.07bn – an increase of 11 per cent on an underlying basis.

Pendragon set to top forecasts

Pendragon, the car dealer, said yesterday it expected to beat City forecasts for the year just ended. Visits to the group’s three websites – Stratstone, Evanshalshaw and Quicks were up 19 per cent in the final quarter of 2014.