Retail therapy gives markets a lift as battle to contain inflation genie starts in earnest May 27, 2022 European markets spent most of yesterday edging cautiously higher, with the FTSE100 shrugging off the UK government’s decision to impose a 25 per cent windfall tax on the oil and gas sector, while at the same time unveiling a fiscal stimulus package. The decision to impose the controversial tax appears to have prompted a review [...]
Record profits place TSB on course for £50m dividend but impairment charges rise on recession fears January 26, 2023 TSB Bank proposed a £50m payout to its parent company in the first quarter of 2023 as its yearly pretax profit increased to a record level. Pretax profit in the 2022 financial year rose to £183.5m from £157.5m in 2021, reflecting lending growth, higher interest rates and higher deposit margins. This figure includes the costs [...]
Kellogg to split into three firms as cereal maker focuses on snacks June 21, 2022 Cereal maker Kellogg will split into three independent companies and make its snacks division its biggest focus. The Coco-pops maker said it would spin off its North American cereal and plant-based foods businesses. Names for the three companies are yet to be decided upon. Its snack company – which includes brands including Pringles, Cheez-It, and [...]
Sofa giant DFS suffers big slump in profits after ‘grim year’ amid sharp retail downturn September 15, 2022 DFS said this morning the sofa seller has suffered a big slump in profits. Moreover, the company warned that the industry is facing a downturn as soaring bills mean fewer customers are in the market for a new sofa. DFS said pre-tax profit dropped 43 per cent to £58.5m in the financial year that ended [...]
Build, Baby, Build: Move over avo toast, ceramics are Gen Z’s housing crisis crutch June 27, 2024 Gen Z are spending more time and money on interior design, not despite, but because of, the housing crisis, writes Anna Moloney.
Shoe Zone kicks back delivering 58 per cent boost from digital growth January 11, 2022 Shoe Zone reported recovering revenues, as the shoe retailer continues to diversify its offering to survive. It announced a revenue of £119.1m, compared to the previous year’s £122.6m. Profit before tax was at £9.5m for the period up to October 2021 (2020: £14.6m loss) with an earnings per share of 14.0p (2020: (23.8)p loss per [...]
Euro 2024 branding: There will be no escaping football fever this year May 28, 2024 Euro 2024 is not just about football on the pitch. Brands use this period of captive audience for their own benefit. Either way, as Daniel Sproul writes, there’s no escaping football fever. The summer of sport kicks off in earnest on 14 June with Euro 2024 – and brands across Europe and in the UK [...]
UK retailers most pessimistic since financial crisis amid coronavirus outbreak March 25, 2020 UK retailers are at their most pessimistic since the financial crisis as sales of non-essential goods plummet due to coronavirus containment measures, a survey has shown. However, grocers and other food firms have seen a surge in demand as Brits stockpile during the coronavirus lockdown, the CBI said today. This divergence of fortunes for Britain’s [...]
Markets today: Weaker start for Europe as investors focus on inflation November 18, 2020 After the vaccine inspired rally on Monday, a slightly more tempered market followed on Tuesday as the continued rise in virus cases started to experience a bit more cut through in the face of some disappointing US economic data. It is slowly becoming apparent that the economic damage being caused by subdued consumer activity is [...]
FTSE 100 close: THG skyrockets 40 per cent while miners edge London index higher April 17, 2023 London’s FTSE 100 kicked off a fresh week in muted fashion today, inched higher by investors snapping up shares in mining giants, while fashion firm THG skyrocketed more than 40 per cent on mounting takeover rumours. The capital’s premier index added 0.1 per cent to close at 7,879.52 points, while the domestically-focused mid-cap FTSE 250 [...]