JD Sports: Why Peter Cowgill’s scandal-stricken exit was only a temporary blip in the brand’s race to the top May 9, 2023 JD Sports has no problem showing rivals how it’s done. This morning the ‘king of trainers’ kicked off its five year growth strategy, with a proposed acquisition of a leading French sports brand Courir, costing the brand a weighty £425m. As share price for JD Sports soared over three per cent this morning, it’s clear [...]
Cake Box plans to swell to 200 stores after e-commerce boost gives profits a 83 per cent jump June 27, 2022 Cream cake retailer Cake Box has outlined plans to open more stores as it reported a pre-tax profit of £7.7m for the latest financial year. This marked a 83.3 per cent jump from the previous years as it continued its post-pandemic recovery. Revenue rose by 50.7 per cent from £21.9m to £33m. Neil Sachdev, non-executive [...]
An online sales tax would be a small hassle for Amazon, but a hard blow for our shops June 21, 2022 The Treasury is considering whether to introduce an online sales tax (OST) as a “means to rebalance the taxation of the retail sector between online and in-store retail”. A decision is expected in autumn – probably as part of the Chancellor’s Budget. If the government has any sense, it will run a mile from taking [...]
Poundland owner Pepco pledges to ‘protect prices’ as discounter names new CEO April 22, 2022 Poundland owner Pepco has vowed to “protect prices” as customers feel the pinch of rising bills. The Warsaw-listed retailer posted a 17.6 per cent rise in first-half revenue, sales were buoyed by new store openings. Customers would be protected from increases to prices by the retailer renegotiating terms with key suppliers and stock efficiency programmes, [...]
Dreams of ‘future drinking’ bolsters wine merchant Berry Bros November 7, 2022 THE UK’s oldest fine wine merchant Berry Bros & Rudd said profitability soared this year, as wealthy collectors keep their eyes on “future drinking” through hard economic times. The family-owned business said turnover climbed 7.2 per cent to £220.2m in the year to March 2022, whilst EDITDA rocketed 107 per cent. Berry Bros, which also [...]
Quiz returns to profit for full year as the party season makes a comeback July 5, 2022 Quiz returned to annual profit this morning thanks to recovering party plans and end of lockdown measures. The British company posted underlying pre-tax profits of £788,000 for the year to March 31 following losses of £9.6m the previous year. It comes after the company reported strong online growth, with a 66 per cent increase in [...]
Black Friday will have a black mark to its name if it ignores the climate question November 24, 2022 If you are walking past a colleague’s desk tomorrow, and their screen is full, not of the task due yesterday, but of Black Friday sales, they are one of the 76 per cent of customers hunting for discount deals. For some, the day of mega sales can be traced back to a Wall Street stock [...]
Markets live: FTSE 100 and US stocks drop sharply as US-China tensions flare July 24, 2020 The FTSE 100 and US stocks fell after US-China relations soured and rising coronavirus cases threatened the global economic recovery. London’s blue-chip index closed 1.4 per cent lower at 6,124 points, despite some better-than-expected economic data. The FTSE 250 closed 1.3 per cent down. Read more: Asian shares retreat as US-China tensions sour Germany’s Dax [...]
Spring Budget 2024: Hunt confirms fuel duty freeze in boost for UK motorists March 6, 2024 The government will spend £5bn on freezing fuel duty as part of the Spring Budget, in a major tax break for UK motorists
Pink goes offline as Covid takes the shirt off its back January 13, 2021 Pink Shirtmaker, the fashion retailer that became famous trading under the name Thomas Pink, has been shuttered by owner LVMH. Covid appears to have seen off the shirtmaker, which had been struggling for years and closed its Jermyn Street flagship in December. All traces of its social media channels, online store and links on the [...]