Retail giants to be hit by £190m business rate bill as industry fears ‘tipping point’ September 19, 2018 UK retailers are set to face a fresh tax bill worth hundreds of millions of pounds if today’s inflationary figures remain similar next month, with embattled high street businesses fearing another hefty levy could push the sector to its limits. The British Retail Consortium (BRC) predicts that the retail sector will be slapped with a £190m [...]
Retail giants to be hit by £190m business rate bill as industry fears ‘tipping point’ September 19, 2018 UK retailers are set to face a fresh tax bill worth hundreds of millions of pounds if today’s inflationary figures remain similar next month, with embattled high street businesses fearing another hefty levy could push the sector to its limits. The British Retail Consortium (BRC) predicts that the retail sector will be slapped with a £190m [...]
Nisa bags a nicer Christmas trading period January 4, 2017 Convenience store chain and wholesaler Nisa Retail bagged a sales boost in the lead-up to Christmas, with like-for-like sales increasing 2.2 per cent. Total sales grew 2.7 per cent in the 10 weeks to the 1 January, reaching £235.6m, as compared to £229.5m during the same period last year. Read more: Christmas come early: CMA [...]
Retailers under pressure as the online revolution causes profit warnings to double to seven-year high | City A.M. July 22, 2018 The number of FTSE-listed companies issuing profit warnings rose by 13 to 58 in the second quarter, an increase of 29 per cent compared to the same period last year, according to an EY report published today. The rise was led by the retail sector of the FTSE index, where profit warnings for the first [...]
Asos sales jumped during a record Christmas trading period January 12, 2017 Asos remains decidedly en vogue, after it hiked guidance following a record Christmas trading period. The figures It's all coming up roses for Asos (in this case, roses embroidered down the side of a button-down denim mini). The online retailer reported a 36 per cent jump in retail sales to £605.7m in the four months to the end of December, [...]
New Look suffers “disappointing” sales drop during crucial Christmas shopping period February 7, 2017 New Look did not have a very merry Christmas, failing to bag a sales boost during the most important period of the year for retailers. The figures New Look said group like-for-like sales fell 4.6 per cent in the 13 weeks to 24 December, with sales in the UK down 4.7 per cent on the same [...]
Alternative finance lender Oakam is trying to help the unbanked November 30, 2018 Payday loan companies get a bad rap. And it’s easy to see why, considering the predatory businesses practices and extortionate interest rates charged by lenders like Wonga, which collapsed into administration this year. High-interest, short-term loans were back in the news this week, with the announcement that the fintech startup Monzo is considering offering such [...]
Trouble in store for House of Fraser as credit insurer pulls cover March 4, 2018 A credit insurer has pulled cover on House of Fraser, underscoring the difficulties faced by the department store following a disappointing set of Christmas figures. A spokesperson for House of Fraser said 20 of the business' 650 suppliers were affected by the credit insurer's decision. Those suppliers will now have to find new insurance, or [...]
Bank of England’s Mark Carney adds voice to criticisms of EU for lack of movement on Brexit risks June 27, 2018 The City’s fightback against the EU’s Brexit warnings stepped up a gear today as Bank of England governor Mark Carney took to the field, warning that EU officials are not putting in sufficient effort to preserve financial stability post-Brexit. The EU has not matched commitments by the UK government to allow European firms to continue [...]
Poundland follows controversial Christmas naughty elf campaign with some risqué Easter ads March 26, 2018 Poundland got into hot water last month with the Advertising Standards Authority for its naughty elf Christmas adverts, which were branded offensive and unsuitable to be seen by children. But that hasn’t dampened the discount retailer’s spirit. In fact, it has recently kicked off a new campaign for Easter, featuring a fluffy rabbit and chick. [...]