Issa brothers’ EG Group posts subdued profit due to cost of living pressures on consumers September 1, 2022 The Issa brothers’ EG Group has posted subdued profit for the second quarter, as the petrol station forecourt operator said “the cost-of-living squeeze remains front of mind for all of us.” EG Group saw group EBITDA slump 6.5 per cent to $355m (£308m), for the three months to 30 June, it shared on Thursday. The [...]
Sofa seller ScS cautions cost-of-living pressures have slowed orders down August 4, 2022 ScS has warned that cost-of-living pressures have already driven down orders although the sofa business still lifted its profit expectations for the rest of the year. The furniture retailer reported a 3.9 per cent increase in orders in the year to 30 July, compared with the previous year. The company said a stronger than expected [...]
Nightcap shares jump as bar chain bucks trend with record Christmas January 10, 2024 London Cocktail Club owner Nightcap had a “record” Christmas despite ongoing rail disruption and cost of living pressures.
Labour puts pressure on Sunak to ease household cost of living pressures in Budget October 26, 2021 Labour has put pressure on Rishi Sunak to do more to ease household cost of living pressures in the autumn Budget as MPs hit out at the Treasury for releasing large parts of tomorrow’s announcement early. Shadow chief secretary to the Treasury Bridget Phillipson today called on the government to cut VAT on energy bills [...]
UK credit unions report surge in loans after demise of payday lenders August 22, 2024 Lending by UK credit unions has surged in recent years, following the collapse of major payday lenders and cost of living pressures fueling a rise in demand for credit.
Sunak cuts the Universal Credit taper rate to ease cost of living pressures October 27, 2021 Rishi Sunak has today cut the Universal Credit taper rate in a move that will put £2bn back into the pockets of the country’s lowest paid workers. Sunak announced in his Budget today that the taper rate will be slashed in December from 63 per cent to 55 per cent in a move that is [...]
B&M: Discount retailer enjoys rewards of cost-of-living Christmas January 9, 2024 B&M Bargains enjoyed a buoyant Christmas, reporting a five per cent leap in revenues during the golden quarter.
Retail sales show signs of recovery after summer washout September 22, 2023 Retail sales volumes rose by 0.4 per cent in August 2023, partially recovering from a fall of 1.1 per cent in July 2023, new government figures show. Non-food stores sales volumes grew by 0.6 per cent in August 2023, following a fall of 1.2 per cent in July 2023 when unseasonable rainy weather drove shoppers [...]
Mike Ashely’s Frasers Group raises stake in Boohoo to 22 per cent January 18, 2024 Mike Ashely’s Frasers Group has upped its stake in Boohoo again, taking it from 17 per cent to over 22 per cent. Shares in the fast fashion firm leaped over three per cent this morning as investors responded positively to the news. Frasers, formerly called Sports Direct, said over the summer its purchase of Boohoo [...]
Glass half empty: Distil searches for a loan as spirits firm’s revenue halves August 14, 2024 Spirits firm Distil has reported a steep drop in revenue in light of inflation, cost-of-living pressures and a significant hike in alcohol duty. The AIM-listed firm, which owns brands including RedLeg Spiced Rum, Blackwoods Gin and Vodka and Blavod Vodka, said that revenue fell by 55 per cent in the four months covering April-June this [...]