Boohoo shares slump as profit dwindles from pandemic highs September 30, 2021 Boohoo’s shares sank as much as 15 per cent today, after the fast fashion retailer reported profits were down on last year’s pandemic highs, as increased operational costs slightly offset business gains. The e-commerce giant announced this morning that revenue surged 20 per cent in the six months ending 31 August, with sales jumping to £975.9m [...]
Bargain bin: Topshop’s former Oxford Street site on sale for £420m May 2, 2021 For years it was the jewel in the crown of Sir Philip Green’s retail empire. But with the collapse of Arcadia last November, the former home of Topshop on Oxford Street is now on the market for a cool £420m. Marketing materials seen by The Times suggest the property will offer a “new age retail [...]
Editorial: From fireworks to business rates, it’s time to move forward October 15, 2021 On the face of it, whether or not a fabulous yellow roman candle explodes like a spider across the stars for London’s New Year’s Eve celebrations is not the world’s most pressing issue. But in its own luminous way, the decision by the Mayor to cancel the capital’s midnight show for the second time in [...]
Londoners may be set for bumper 5 per cent TfL fares hike in 2022 July 15, 2021 Londoners could face a 5+ per cent hike in Tube fares next year as Transport for London (TfL) is forced to adjust its prices to ballooning inflation. Under the terms of TfL’s most recent government bailout, the transport body has to increase its prices each year by 1 per cent more than the retail price [...]
Shoppers set to spend £33bn across major supermarkets in festive period November 16, 2021 Trips to UK supermarkets have shot up as Brits prepare to shop both online and in-store for Christmas. In-store visits to supermarkets swelled 6.5 per cent in the last four weeks ending 6 November. This represents 28m more visits compared with the same period last year, according to data from NielsenIQ. The online share of [...]
Rallying retail stocks lift FTSE 250 to fresh record high August 25, 2021 A rally among retail and consumer goods stocks drove the mid-cap FTSE 250 to a fresh record high today. The domestically-focused mid-cap index pulled back slighlty from morning gains that saw it reach a new summit, but it registered its highest closing score ever, up 0.42 per cent today to 23,986.37 points. Over the last [...]
City rumour mill grinds around possible mega private equity offer for Marks & Spencer November 22, 2021 As shoppers prepare for a black Friday spree, the bargain hunt for good value UK companies continues for private equity firms. The rumour mills are now grinding around a possible bid by Apollo Global Management for UK high street staple Marks & Spencer, sending shares 3 per cent higher in early trade. The New York-based private equity giant [...]
Retail, hospitality and transport sectors fear staff abuse when mandatory face masks end July 13, 2021 Business leaders in industries that operate in public indoor settings fear staff could come under attack from customers after the government lifts the legal requirement to wear face masks on 19 July. As of next week, businesses can enforce their own policy on masks as they see fit to protect their staff and customers. But [...]
Poundland owner sets discount price for budget retailer’s Warsaw listing May 14, 2021 Poundland’s owner has set a discount price for the budget retailer’s Warsaw listing, giving the company a market capitalisation of 23bn zlotys (£4.38bn). South African conglomerate Steinhoff, the parent company of Poundland owner Pepco, set the price of shares in the firm at 40 zlotys. The pricing is towards the lower end of the 38 [...]
Moonpig more than doubles revenue as lockdown delivers trading boom July 27, 2021 Online card retailer Moonpig has more than doubled its revenue in its first annual results since a bumper London stock market float earlier this year. The greetings card specialist posted revenue of £368.2m in the year to the end of April, a huge jump from the £173.1m recorded in the previous year. Reported pre-tax profit [...]