Pepco: British Poundland veteran parachuted in to save struggling European wing September 28, 2023 A retail veteran, who was instrumental in driving UK growth for budget outlet Poundland, has been reshuffled by Pepco to head up its struggling European division. The move comes as the arm posted its second profit warning in three weeks. Barry Williams, who served as managing director of Poundland and Dealz, in the UK and [...]
Topps Tiles cautions over sliding sales as annual profits slump November 28, 2023 Topps Tiles cautioned over a “weakening of discretionary consumer spending” that is impacting trading so far in its new financial year, with like-for-like Topps Tiles sales down 6.1% in the first eight weeks.
Cost of living crisis: Grocery inflation up two per cent in just one month with shoppers forking out £800 more a year January 31, 2023 Grocery price inflation has hit a record 16.7 per cent to add a potential £788 to annual shopping bills, figures have shown. The “staggering” 2.3 percentage point jump in the four weeks to January 22 has exceeded the previous high recorded by analysts Kantar in October and is the highest figure since their records began [...]
First Kingfisher now Wickes: DIY drop off dents profit for home improvement – but it’s not all bad news March 23, 2023 Wickes has seen a drop in profits for the year as consumers’ love for home improvements took a dent from rising costs, despite the company reporting ‘record’ sales. The DIY retailer posted pre-tax profits of £75.4m down from a “record” £85.0m in 2021 when Brits were engulfed in a number of circuit breaker lockdowns and [...]
Dunelm sales rise as shoppers buy heaters and thick duvets January 19, 2023 Homeware and furnishings retailer Dunelm has revealed a jump in sales for the past quarter as shoppers bought heaters and thick duvets to offset the rocketing cost of heating their homes. The Leicestershire-based retailer said annual profits are set to beat market expectations following a strong Christmas period. Total sales increased by 18 per cent [...]
Rishi Sunak to extend business rates relief and furlough February 19, 2021 Rishi Sunak is set to extend business rates relief and the furlough scheme into the summer, offering further support to companies battered by coronavirus restrictions. In his Budget next month the chancellor is expected to announce that the year-long business rates holiday for the retail, hospitality and leisure sectors will continue beyond the previous end-date [...]
RedLeg Spiced Rum, Trove Vodka and Blackwoods Gin maker Distil reports profit plunge April 11, 2024 Sales between January to March fell 47 per cent year-on-year, despite an overall eight per cent rise in full-year volumes.
Trafford Centre: Profit slashed despite revenue nearing £100m at Manchester shopping icon July 24, 2024 The company behind Manchester's Trafford Centre has seen its profit more than halve despite its revenue soaring to almost £100m, according to newly-filed documents.
Regional REIT: Boost to bottom line as it looks beyond emergency capital raise August 5, 2024 Embattled real estate investment trust Regional REIT was given a boost from exchanges on six big leases in the three months to June, helping it achieve a double digit net rental uplift since the start of the year.
Have Brits fallen out of love with DIY? B&Q and rival Wickes eye lower profits after costs soar and demand dwindles March 20, 2023 B&Q owner Kingfisher and rival Wickes are set to reveal falls in profits over the past year as surging costs dampen the outlook for the home improvements market. Kingfisher, which runs B&Q and Screwfix, has previously indicated its sales and profits have weakened over the past year, as it also saw DIY demand from locked-down [...]