Market Report: Clipper Logistics delivers with click-and-collect plan for John LewisComments Off on Market Report: Clipper Logistics delivers with click-and-collect plan for John Lewis
London’s shoppers are becoming ever more demanding about delivery times for their posh John Lewis goodies, be it a Brabantia bin, Fred Perry shirt or luxury hamper.
So the City was delighted to hear earlier that from late summer, retail delivery specialist Clipper Logistics will expand a click-and-collect service for John Lewis customers.
They will buy online and then pick up in a Waitrose shop the next day. It comes after an initial trial.
The firm also pleased investors with its update for the year to April 30.
It recorded a 23.7% revenue surge to £290.3 million, helped by a string of new logistics contracts with fashion retailers such as Zara.
The shares jumped by 14.25p, or more than 5%, to 288.5p.
Other strong performers included Britain’s largest car dealership chain Pendragon, which said it does not expect the Brexit vote to impact vehicle pricing.
Its 9.7% rise in first-half pre-tax profit to £44.2 million also went down well with shareholders, pushing Pendragon up 0.23p to 31.31p.
But the biggest riser on the FTSE 250 index was BBA Aviation, jumping nearly 14p to 248.9p.
The British aircraft services group said it was “confident” in the full-year outlook and has strong momentum into 2017.
Underlying operating profit was up 56% to $149.6 million (£113 million) in the first half. However, the FTSE 250 index slumped 227.98 points to 16,911.23 as energy and telecoms stocks lost ground.
Over to the FTSE 100, and it was not only bank shares that dragged the blue-chip index down 53.31 points to 6640.59.
The biggest faller was Travis Perkins, down 64p to 1480p, after chief executive John Carter revealed that the business has been hit by the vote to leave the single-trading bloc.
He said: “It is clear that the result of the EU referendum has created significant uncertainty in the outlook for our end markets and we did experience weaker demand in the run-up to and immediately following the referendum.”
But better news on the index for Burberry, which was edging up 7p to 1311p.
The rise came a day after the fashion house made the decision to move further into the Chinese market, buying the remaining 15% stake in its Chinese distributor for £54 million.