China’s economy grew 4.9 per cent in third quarter October 19, 2020 China’s economy expanded 4.9 per cent year-on-year in the third quarter, missing expectations but storming ahead of other nations still suffering the economic fallout from the pandemic. Chinese GDP continued its recovery between July and September, marking a second consecutive quarter of growth following a 3.2 per cent hike in the second quarter. The return [...]
Zalando forced to axe jobs as retailer admits it expanded ‘too much’ February 21, 2023 The German-based group, which sells a range of brands such as adidas and Nike, said it had expanded some parts of its company “too much”.
Asos chief: We’ll ‘reignite our brand heat’ to turn firm around November 1, 2023 Despite a fall in earnings, Asos said it is on track to deliver revenue growth of pre-COVID levels by the 2025 financial year.
Marks & Spencer’s CFO urges Chancellor Rishi Sunak to firmly reject online sales tax May 19, 2022 Marks and Spencer has reportedly warned the Government that an online sales tax would do more harm than good for the high street. In February, the Government launched a consultation into possibilities for an online sales tax to ease the business rates burden on high street stores. In a letter to Chancellor Rishi Sunak, reportedly [...]
Halfords focusing on offering shoppers more essentials as they slash discretionary spending November 23, 2022 Halfords must transform into offering more essential products as shoppers trim back discretionary purchases, bosses said on Wednesday morning. The cycling specialist said that a switch-up to selling more “needs-based” items was key as the firm must become less “reliant and exposed to the volatility of more discretionary product markets.” It warned it was expecting [...]
FTSE 100 gains despite record slump in UK GDP February 12, 2021 The FTSE 100 pared back its losses this afternoon despite data showing the UK economy shrank by a record 9.9 per cent last year. The figures reflect the damaging economic nature of national lockdowns imposed to curb the spread of coronavirus. Mining and financial stocks led the declines, as the FTSE 250 also dipped by [...]
Why are convenience stores all the rage? August 22, 2024 Earlier this week, Waitrose became the latest UK grocer to announce a big push into the convenience store market. The supermarket giant will open 100 stores in the next five years as part of a $1bn investment plan. Waitrose follows Asda, Morrisons (with its McColl’s estate), Tesco, Sainsbury’s and the Co-op in ploughing ahead with [...]
Heineken’s biggest-ever price rises fail to stop slash in UK profit August 27, 2024 Heineken’s biggest-ever price rises in the UK failed to stop its profit being slashed during its latest financial year as it battled “economic volatility”. The Edinburgh-based division raised its prices in 2023 as it faced “significant inflationary pressure on input costs”, reducing consumer spending, higher labour costs and rising energy bills. According to newly-filed results, [...]
Revolut achieves $45bn valuation in employee share sale August 16, 2024 Revolut has cemented its position as Europe's most valuable private technology company after securing a $45bn (£34.9bn) valuation in a share sale by employees.
Bensons for Beds still in the red as fewer customers visit stores March 15, 2024 Bensons for Beds cut its losses as sales passed £250m during its latest financial year, new detailed accounts have revealed.