B&M: Bargains boost sales during ‘golden quarter’ – but will shares continue to rally? January 5, 2023 Bargain hunters gave discount retailer B&M a timely Christmas present as it looks to continue a share price rally that has seen its value jump 18 per cent in the last six months. In its third quarter trading update B&M reported 12.3 per cent year-on-year revenue growth of £1.5bn during the 13 week period 25 [...]
The City View: Ofgem revamp could mean fourfold energy price rise in 2022 May 16, 2022 Today Andy Silvester talks to City A.M. reporter Sascha O’Sullivan, who unpicks Sadiq Khan’s efforts in America to promote London as a global hub for investment, and goes through the mounting pressure that Rishi Sunak is facing as the cost of living crisis worsens. And in the news: shares in Greggs and MADE.com have dipped, [...]
Greater London boroughs most at risk of ‘monster’ mortgage rate hikes, say Lib Dems October 3, 2022 Greater London boroughs are most at risk as “monster” mortgage rate hikes loom, according to research by the Liberal Democrats. Sutton, Bexley, Kingston upon Thames and Redbridge are home to the highest proportion of properties owned with a mortgage, with one in three households ladened with the debt – far above the city average of [...]
Explainer: British Gas and other energy firms under the spotlight for prepayment meters February 3, 2023 This measure is considered a “last resort”, but it was found to be used routinely. Arvato, the contractor used by British Gas, incentivised its debt collectors to force-fit the meters through bonuses. Energy companies apply to magistrates’ courts to get the warrants they need to force entry into homes. The number of these warrants rose [...]
Sadiq Khan warns rebel boroughs against challenging ULEZ expansion February 6, 2023 Sadiq Khan has warned a number of rebel boroughs against challenging the London-wide expansion of the Ultra Low Emission Zone, or ULEZ, saying their case was “wholly without merit and misconceived.” Four Conservative boroughs sent a pre-action letter to Transport for London (TfL) on 13 January, challenging Khan’s decision to expand the ULEZ to Greater [...]
Shoppers spend more at convenience stores this summer while volume sales at large grocers dip August 23, 2022 Convenience stores have seen sales buoyed this summer, as shoppers coughed up £3.6bn on groceries in them over the past month. Over the four weeks to 13 August, convenience stores made up some 28.9 per cent of sales, according to fresh data published by NielsenIQ on Tuesday. Total till grocery sales saw a growth of [...]
Boots advantage card helps sales soar as shoppers sign up to bag beauty bargains March 28, 2023 Boots has reported a surge in sales as the high street chemist benefited from savvy shoppers keen to rack up points on its advantage card loyalty scheme. In the three months to 28 February 2023, the retailer’s sales increased 16 per cent as customers shrugged off the cost-of-living crisis to splash out on skincare and [...]
Asda boasts earnings and cash flow growth as low prices and loyalty apps win over consumers April 22, 2024 The firm pointed to the success of its loyalty app scheme, lower opening price points and the Just Essentials range.
The world is waking up – again – to the damage higher taxes do to growth January 22, 2024 Tax was on the agenda like never before at last week’s Davos summit. It must mark the moment the UK changes course. There was something in the water at Davos last week. On Wednesday, the World Economic Forum hosted Argentinian President Javier Milei’s ode to free markets and individual liberty, the most staunch defence of [...]
Ryanair chief forecasts price increase after ‘surprisingly strong’ bookings October 13, 2022 Ryanair is predicting an increase in prices following “surprisingly strong” bookings, according to chief executive Michael O’Leary. O’Leary said that – despite recent forecasts of 3-4 per cent growth – air fares “will rise by a mid to high single digit figure for the full year” unless alarming reports on Covid and Ukraine come out. [...]