Ocado’s ‘M&S’ magic fails to impress as shares trade down despite revenue boost March 28, 2023 Ocado said it had helped by some “M&S magic” as the grocery chain’s joint venture with the high street stalwart boosted sales by 3.6 per cent in its first quarter. Shares in the online grocer were last trading down 1.97 per cent or 8.9p at 443.20p. The up market online grocer, which posted a pre-tax [...]
Sainsbury’s launches new EV charging unit to address UK shortage January 12, 2024 Sainsbury's has today launched a new EV charging business designed to give customers access to chargepoints at its stores.
Greene King revenues top £2bn as pub chain hopes inflation fears will be drowned out by a boozy Coronation May 2, 2023 Greene King said revenues continued to soar however the chief executive of the group warned that inflation and the cost of living crisis would prove a “tough backdrop” for the hospitality sector. The pub operator, which has over 2,000 sites across the UK, reported a revenue hike of 62.2 per cent for the 52 weeks [...]
FTSE climbs despite Bank’s wobble on interest rate cuts December 14, 2023 The FTSE 100 has climbed to its highest level for almost two months, despite caution from the Bank of England over expectations that interest rates will be slashed next year.
Moonpig shrugs off Royal Mail strikes to hold on to post pandemic loyalty March 30, 2023 Moonpig has reported its largest ever week of sales in the UK thanks to consumers scrambling for Mother’s Day cards. The listed retailer, which allows shoppers to personalise cards and gifts, said it now expects annual revenue for the year ending 30 April to remain at £320m, despite previously warning that Royal Mail strikes had [...]
Sainsbury’s Bank sale marks end of an era for supermarkets June 20, 2024 Sainsbury's has agreed to sell most of its banking arm to Natwest, in a deal that will see the supermarket pay the lender £125m.
H&M reveals 240 store closures in ‘established markets’ March 31, 2022 H&M has announced 240 global store closures after posting a slowdown in sales after suspending activities in Russia. The Swedish retailer has said it will open some 95 new stores and shut around 240 stores this year, with a net decrease of 145 spaces. Closures will “mainly be in established markets,” the fashion company said, [...]
Co-op Bank buoyed by interest rate rises as takeover speculation continues April 28, 2023 The Co-operative Bank has reported a jump in income as the latest lender to be boosted by higher interest rates which have pushed up the cost of borrowing. The company said its net interest income – the difference between what a bank charges for loans and pays for savings – surged by a fifth to [...]
Downing tools: Investors pile into bets against B&Q owner as DIY boom slows August 18, 2022 The troubled owner of retailer B&Q has become the most shorted stock on the London Stock Exchange this week as two top investors revealed hefty bets against the firm.
Sainsbury’s in talks to sell 18 supermarket stores to LXi REIT for £500m September 21, 2022 Supermarket Sainsbury’s is in discussions to sell more than dozen stores to real investment trust LXi REIT for around £500m. The businesses confirmed talks about a sale and leaseback deal on Wednesday, after a report by Sky News earlier this week. LXi REIT hopes to fund the deal through a combination of new equity and [...]