Cost cutting efforts working: AO World’s outlook upped for third time in three months February 28, 2023 Online electricals retailer AO World has hiked it annual earnings outlook for the third time in just over three months as it said cost-cutting efforts were paying off. The Bolton-based group said its profitability has seen a better-than-expected improvement as it drives cost savings thanks to a “resilient” customer base. AO World said price increases [...]
Diageo toasts ‘good start’ to year as drinkers’ thirst resilient despite economic slump October 6, 2022 Guinness owner Diageo has raised a glass to resilient demand for drinks despite a consumer spending slowdown. In a brief trading update on Thursday morning, the London-listed beverage giant said it had made a “good start” to its 2023 fiscal year. Chief executive Ivan Menezes noted “organic net sales growth across all regions” as the [...]
Deliveroo shares slide as £1.9bn reported revenue fails to bolster market confidence in food delivery favourite March 16, 2023 Deliveroo shares have continued to pedal downwards this morning as investors struggle to regain confidence in the brand following its decision to slash some 350 job roles and disastrous IPO listing. It comes as the food delivery group, which has seen its share price fall consecutively over the past 12 months due to tough market [...]
Online retailer making waves around the world May 15, 2023 It started nearly 20 years ago with a keen record collector looking to find a market for some of his discs on eBay – then still a relatively new online auction website. Now Rarewaves.com is one of the largest online marketplace retailers in the world selling all manner of goods to all the countries around [...]
Wilko: B&M snaps up 51 stores of beleaguered retailer for £13m September 5, 2023 B&M has confirmed that it will buy 51 Wilko stores for £13m following the highstreet stores collapse. The rival discount chain, which has over 700 sites across the UK, did not mention how many job roles would be saved in the process. On the sale, its share price was down more than three per cent [...]
Week Ahead: Aldi and Lidl tightening the screw on Sainsbury’s as retailers fight to retain price-wary customers April 23, 2023 The supermarket giant is set to report a fall in annual pre-tax profits this week, posting up to £690 million, down from £730 million last year. According to the latest Kantar survey, Sainsbury’s reported a strong 12-week sales growth of 12 per cent at the end of March, but fell short of rivals Aldi and [...]
Petrol price plummets to below 150p for first time since Russia invaded Ukraine January 10, 2023 The average price of petrol has fallen below 150p per litre for the first time in more than 10 months. Figures from data company Experian show the average price of a litre of the fuel at UK forecourts on Monday was 149.7p. The reduction of nearly 42p from the record high of 191.5p in July last year, [...]
Elliott holds talks with Hargreaves over backing Matalan bid October 11, 2022 John Hargreaves' bid to wrest back control of Matalan could be given a valuable boost from the owner of Westminster.
Supermarket shoppers face £454 extra to yearly grocery bill as inflation bites July 19, 2022 Shoppers are now facing a £454 increase to their annual supermarket bills, with grocery price inflation edging towards the highest level since 2008. According to the latest numbers from Kantar, grocery price inflation now sits at 9.9 per cent for the past four weeks. This marks the second highest level of inflation seen since 2008, [...]
Grocery inflation dips for first time in almost two years but ‘long way down’ for price increases December 6, 2022 Grocery price inflation has dipped for the first time in almost two years while the price of a family Christmas dinner sits at an eye-watering £31. The rampant pace of price increases let up slightly this month, dropping 0.1 percentage points – the first dip in 21 months. Four-week inflation now sits at 14.6 per [...]