Ikea promises to cut furniture prices as costs start to ease October 12, 2023 Ikea has promised to pass on cost savings to customers by cutting prices over the next year as pressures in its supply chain start to ease. The company said that it has a “clear intention” to reduce prices this financial year, ending next August and will launch a sale at Easter for the first time. “Despite [...]
Soaring inflation forces Brits to tighten belts on groceries as summer clothes, DIY and fuel sales pick up June 23, 2023 Brits are still splashing the cash amid soaring inflation, with retail sales estimated to have increased by 0.3 per cent last month off the back of non-food splurging. The main driver of sales was online, with non-store selling volumes up by 2.3 per cent, while food store sales were down by half of one per [...]
Nightmare before Christmas? Nearly 4,500 UK retailers are in ‘critical financial distress’ December 21, 2023 Nearly 4,500 UK retailers are in “critical financial distress” during the sector's ‘Golden quarter’ due to weak Christmas sales performances.
Spring Budget 2024: Business leaders livid ‘overwhelming’ case for one tax cut didn’t land March 6, 2024 Bosses, including the chief of Marks and Spencer and the head of British Airways, have reacted with fury this afternoon, following the Chancellor’s snub of the tourist tax.
JP Morgan nudges up UK growth forecasts after latest GDP figures August 20, 2024 JP Morgan bumped up their growth forecasts for the UK economy in the third quarter of this year following last week’s GDP figures. The investment bank now expects the economy to grow 0.4 per cent between July and September, up from a previous estimate of 0.3 per cent. This equates to an annualised growth rate [...]
Club L London: Sales almost double as profits rise and headcount jumps February 1, 2024 Sales have almost doubled at fashion retailer Club L London during a year which also saw its profits and headcount jump.
UK retail sales miss expectations before March’s coronavirus hit March 26, 2020 UK retail sales slumped 0.3 per cent in February to miss expectations of a small rise of 0.2 per cent. And core UK retail sales dropped 0.5 per cent on a monthly basis, deeper than expected in February, despite few businesses seeing the coronavirus-led slowdown that has wrought havoc in March. Excluding fuel, UK retail [...]
Superdry restructure could mean store closures and job losses January 29, 2024 Embattled British retailer Superdry is plotting a major restructuring which could see stores closed and jobs cuts after reporting weak sales.
B&M quarterly sales dip after retailer warns shoppers could cut back amid high inflation June 29, 2022 Discount retailer B&M has seen sales plummet in its first quarter, against strong lockdown comparatives, as cash-strapped Brits cut back on discretionary spending. In a trading update for the 13 weeks from 27 March to 25 June, the London-listed business said group revenue had dropped 2.2 per cent on a constant currency basis. Across the [...]
Currys confident profits will beat forecasts despite slipping sales over Christmas January 18, 2024 Electrical retailer Curry’s said group profit before tax is expected to be ahead of expectations, despite sales falling over the Christmas period.