M&S to close French high street stores after Brexit red-tape September 16, 2021 Marks & Spencer will shut 11 of its French stores because of supply issues with fresh and chilled foods after Brexit. The supermarket said it would close all franchise stores operated with partner SFH in the country by the end of the year. Nine stores at travel hubs would remain open but supply chain problems [...]
The Works ‘encouraged’ by post-lockdown sales but warns of ongoing uncertainty May 14, 2021 Arts and books retailer The Works said sales have been “very encouraging” since most of its stores reopened, but warned it is too early to judge whether the spike is due to pent up demand or “strong underlying performance”. The high street chain said online sales have reduced since its branches reopened but that they [...]
French Connection boss steps down as group recovers from Covid October 12, 2021 French Connection’s chief executive Stephen Marks will retire from the global retailer, as the company recovers from Covid-19. Commenting on the six-month results, he said: “This is an appropriate time for me to step back from the business that I founded in 1972, and I would like to take this opportunity to thank all our [...]
B&M report mixed-bag results amid supply chain pressures November 11, 2021 B&M European Value has reported group revenue increases of 1.2 per cent, in a patchy set of half-year results. The variety goods retailer has consolidated last year’s rocketing growth levels to reach £2.268bn in its interim results, which is a 26.8 per cent increase on its half-year results from 2020. On a two-year basis versus [...]
Tesco gears up to announce interim results amid sector’s driver chaos October 3, 2021 Supermarket behemoth Tesco is expected to reveal a big share buyback programme this week, alongside setting out plans to overcome supply chain disruption. Tesco’s buyback scheme will run in parallel to its normal dividend, The Sunday Times reported, with no expected plans for a special dividend. The grocer will post its interim results on Wednesday, [...]
WH Smith’s airport takeover is InMotion after Dixons Travel shop deal July 8, 2021 WH Smith's airport takeover is InMotion after Dixons Travel shop deal
WH Smith hails ‘good start’ to the year despite loss of £104m November 11, 2021 Retailer WH Smith has hailed a “good start” to the new financial year amid a continued recovery in its travel stores. It came as the company reported a group pre-tax loss of £104m for the year to August, reducing its losses from £226m last year. Meanwhile, total revenues for the year dropped by 13% against [...]
UK’s inaugural green gilts to carry 2033 maturity August 27, 2021 The UK’s first green gilts, which are due to launch next month will have a maturity date of 31 July 2033, the Debt Management Office (DMO) announced this morning. The sale of the new gilts, the proceeds of which will go towards funding environmental projects, will take place in the week of 20 September. The [...]
FTSE 100 falls but US stocks rise ahead of Fed decision September 16, 2020 The FTSE 100 fell but US stocks opened higher as investors awaited the latest decision from the US Federal Reserve and digested more economic data. London’s main stock index dropped 0.6 per cent to stand at 6,067 points just before 3pm. The FTSE 250 of mid-cap companies fell 0.1 per cent. Read more: UK inflation [...]
Rampant inflation to swell government’s interest bill once again February 20, 2022 Soaring inflation will swell the government’s interest bill to eye-watering levels, official figures released this week are expected to show. The cost of servicing the UK’s stock of debt has already broken several records in recent months, including hitting its highest ever level for a December at £8.1bn. Fresh figures published by the Office for [...]