Retail sales smash expectations despite a drop in consumer confidence September 20, 2024 Retail sales in the UK blew past expectations in August, climbing to their highest level since July 2022, according to the Office for National Statistics (ONS). Sales were up one per cent compared to the previous month, beating analysts’ predictions of a 0.4 per cent rise. The increase builds on July’s return to growth, which [...]
Investment trusts celebrate move to reform cost disclosure rules September 19, 2024 The UK has finally exempted investment trusts from complying with cost disclosure requirements that industry experts say could unlock billions in investment. In a statement today, the government and Financial Conduct Authority said regulators would temporarily withdraw the requirements, which campaigners have argued force trusts to ‘double count’ their fees. While this is also the [...]
Is the party for fashion rental over? September 19, 2024 Fashion rental was once touted as the industry's next big thing, but has the lustre faded, asks Anna Moloney.
Tesco boss Ken Murphy: ‘The AI revolution is upon us’ September 18, 2024 Tesco boss Ken Murphy has said that personalised grocery offers like Tesco Clubcard could “nudge” consumers towards making healthier decisions and that the AI “revolution is upon us” in retail. The Tesco chief executive said that, for example, an AI programme could note someone’s high sodium intake and encourage them to buy lower-sodium and healthier [...]
Next: Analysts look for potential sales forecast upgrade in upcoming results September 15, 2024 Next could upgrade its forecast for full-year sales next week as the retailer looks to capitalise on new business overseas. The clothing retailer reports its interim results on Thursday amid a backdrop of 28 per cent growth in its share price so far this year. Next reported a 4.4 per cent rise in sales in [...]
Bordeaux month: Here are the best clarets to celebrate September 10, 2024 September has been named Bordeaux month – it seems every grape has its own international wine day so why not dedicate an entire month to one of the most renowned and beloved wine regions in the world. Here’s what you need to know when selecting a bottle of Bordeaux red. Firstly, French wine is often [...]
JD Sports puts almost 200 jobs at risk as it moves to close major distribution centre September 10, 2024 Almost 200 jobs have been put at risk of redundancy after JD Sports confirmed plans to close one of its major distribution centres. The Greater Manchester-headquartered group, which is listed on the London Stock Exchange, is to shutter its location at Derby Commercial Park. The move comes after JD Sports penned a 20-year lease on [...]
Regional REIT on ‘much stronger footing’ after emergency capital raise September 10, 2024 Commercial property specialist Regional REIT has reported a relatively robust first half despite an emergency capital raise earlier this year and a still-challenging commercial property market. The London-listed firm, which in June issued a £110m capital raise to stave off liquidation, said it had paid off in full its £50m retail bond and that the company is [...]
Columbia Threadneedle property trust bought out for £673m despite management complaints September 4, 2024 Columbia Threadneedle-run Balanced Commercial Property Trust has reached a deal to be sold for £673.5m, despite objections from its investment manager. The trust has been managed by Columbia Threadneedle since it was created in 2005, and began a strategic review this April after shareholders told it there was “need for change from the status quo”. [...]
Temu owner PDD shares plunge after profit warning August 27, 2024 Shares in Pinduoduo (PDD Holdings), the Chinese owner of discount retailer Temu, have plunged by nearly 29 per cent in New York in a move that has wiped $55bn (£41.6bn) off the company’s market value. The steep decline followed a warning from management about an impending nosedive in profits, causing investors to reassess the company’s [...]