The deputy chairman of Marks & Spencer, Sir David Michels has bought 37,734 shares, together with Michele Michels. This takes Sir David’s holding to 113,984 shares. Like any other retailer, M&S has been experiencing difficult trading conditions. However, the shares closed the week 10.25p up at 276p on the news of the share deal and sales growth witnessed by two other companies in the sector - John Lewis and H&M.

The Co-operative Group’s £1.6bn deal to buy Somerfield looks set to be concluded this week. This is good news for the consortium who own Somerfield as they look set to pocket around £700m. The Co-op look set to shake up Somerfield and  sell-off as many as 150 stores to rival groups.

HMV continues to perform well on the high street thanks to its large music and video game selection, when compared to its competitors. The company has seen its market share increase over the past twelve months and has been rewarded with a 25% rise in full year pre-tax profits. Despite the good news, its shares continue to trade around the 100p marker, which is at the bottom end of its 52 week range. Given the positive results, HMV could be one of the few retailers that still offers some value.

Marks & Spencers share price has fallen 35% since last Monday. Losing another 4% today, analysts expressed concerns that profits could fall by more than one third this year. In 2007 M&S made £1bn, but 2008 could see this drop to as low as £600m. Such news has made the market very cautious about the stock and has left the retailer with a lot of work to do to regain investor confidence.

Hugh Fearnley-Whittingstall secured just under 10% of the votes from Tesco shareholders at the company’s AGM in a propsal to improve the welfare standards for chickens. (more…)

Profits at Halfords have risen 11% as more people are buying bicycles not only in a bid to get fit but to try and cut their motoring and travel costs. Likewise sales of car parts increased as consumers would rather repair their existing vehicle than purchase a new one.

Bike sales have been bolstered by the Chris Boardman range of cycles that retail from £399 to £1,500 which are only available in the UK from Halfords. On this point Managing Director, Nick Wharton said “Beautifully for us, the only place you can buy a Boardman bike in the UK is a Halfords store.”

It is likely that the trend to ‘get on yer bike’ will continue and Halfords have plans to open 100 more stores in the UK as a result. European expansion is also on the cards with Poland, Czech Republic, Hungary and Slovakia being targets for new stores. So if you don’t want to be left behind, visit the Halfords website and start pedalling!

Aldi, Costco and Iceland have had to recall thousands of packets of mussels produced by Bantry Bay Seafoods amidst fears that they could cause food poisoning. The Food Standards Agency (FSA) have warned not to eat the mussels as they are known to contain toxins that could cause sickness and nausea.