Shops’ tax bill 755 per cent higher than online rivals amid war of words over sales tax May 23, 2022 Traditional brick and mortar retailers pay 755 per cent more – almost eight times – than their online rivals in business rates tax. The figures come after Sainsbury’s and Marks and Spencer execs have voiced differing opinions over the prospect of an online sales tax. Fresh analysis by real estate advisor Altus Group has found [...]
John Lewis repays government loan after strong festive period January 22, 2021 John Lewis has announced it will pay back its £300m government loan almost two months early after a better-than-expected festive period. The John Lewis Partnership announced it would pay back £300m of the government’s Covid Corporate Financing Facility which was due to be repaid in March of this year. Under the CCFF, the Bank of [...]
Zara owner Inditex admits further price increases are on the way September 14, 2022 Zara owner Inditex has admitted it plans to increase prices again this autumn, as it battles elevated headwinds. It comes as clothes shoppers are facing their own constraints on discretionary spending as household bills rocket. Europe’s largest fashion retailer will boost prices in the second half of the year, its chief financial officer Ignacio Fernandez [...]
Currys slashes profit forecast as boss warns ‘tough environment’ isn’t going anywhere December 15, 2022 Currys has booked a loss as its chief executive warned that a “tough environment” showed little signs of disappearing in the short-term. The laptop-seller slashed its full year outlook from an initial target range of £130m to £150m to a lower target of £100m to £125m. It posted a group adjusted loss of £17m for [...]
Fever Tree maintains fizz as home sales bubble up March 18, 2021 A very strong performance from its off-trade division prevented mixer maker Fever Tree’s revenues going flat this year, the firm said this morning. With the collapse of its hospitality sales – or “on-trade” – division, which historically accounted for 45 per cent of the firm’s revenues, due to the pandemic, the company may have been [...]
Temu: Chinese platform which encourages customers to ‘shop like a billionaire’ to rake in $40bn in Amazon challenge February 26, 2024 Temu, the ultra cheap Chinese retailer, is forecast to rack in $40bn (£31bn) in gross merchandise value (GMV), as it continues to spawn the western retail market.
Taking the biscuit: Oreo maker Mondelez fined £287m by EU for cross-border trade curbs May 23, 2024 Oreo maker Mondelez has been fined £287m (337.5m euros) by EU antitrust regulators for impeding cross-border trade of chocolate, biscuits and coffee products between EU countries.
Retailers gear up to win battle for Christmas online shopping rush November 1, 2022 Retail giants are battling to entice cash-strapped consumers with a slew of online discounts and sales this year. Spending is expected to slip by up to half on Black Friday this year, against a backdrop of a cost of living crisis, Wunderman Thompson research has forecast. Online retailers are set to benefit from the crunch, [...]
Primark owner claims fast fashion still a draw as cost of living crisis boosts sales April 25, 2023 Primark owner Associated British Foods (ABF) has reported a slight dip in its adjusted operating profit as the retail and grocery giant felt the pain of soaring inflation and a tough economic climate. For the 24 weeks to 4 March, the group’s adjusted operating profit came in three per cent lower at £684m, compared to [...]
The Notebook: Where are retail investors putting their money? May 8, 2024 Victoria Scholar takes the Notebook pen to talk retail investors, Ozempic's fat profits, and the UK's inflation forecast.