Avon launching first UK stores in its 137-year history amid global retail push November 13, 2023 The group is opening an initial tranche of beauty outlets in the UK within the next two months
Asda slashes debt as value range sales surge November 15, 2023 Asda has reduced its debt pile from £4.2bn to £3.9bn, according to its third quarter results, thanks to “strong cash generation” at the UK supermarket. The ‘Big Four’ grocer, said that during the term like-for-like sales, excluding fuel, increased by 2.8 per cent to £5.4bn compared to the same period last year. Food like-for-like sales [...]
Watches of Switzerland: Rolex seller ‘cautiously optimistic’ as it posts modest growth amid ‘rich-session’ May 16, 2024 Watches of Switzerland, the British retailer which sells the likes of Rolex and Tag Heuer watches, said it was “cautiously optimistic” about trading over the next financial year as the firm reports modest growth.
Asda continues to lose market share while grocery inflation rises for first time since March 2023 August 13, 2024 Asda and the Co-op have continued to lose market share while a rise in grocery inflation has led to overall sales increasing significantly for Tesco, Sainsbury’s and Lidl. Take-home sales at the grocers rose by 3.8 per cent in the four weeks to August 4, 2024, compared with the same period a year ago, according [...]
Currys: Could Mike Ashley’s Frasers Group enter bidding war? February 19, 2024 Electricals retailer Currys hit the headlines over the weekend after it emerged it could become the latest big name to leave the London Stock Exchange in a huge take-private deal.
Peacocks returns to the black after shedding hundreds of jobs July 9, 2024 Peacocks has clawed its way back to profit after shedding more than 1,400 jobs, newly-filed documents have revealed.
FTSE 100: London markets dip as investors fret over interest rate pain June 23, 2023 London’s premier FTSE 100 index has tumbled at the open this morning as investors grapple with the Bank of England’s move to hike rates to their highest level in 15 years yesterday.
Co-op invests £70m into fresh price cuts for as losses narrow September 21, 2023 The Co-op has invested a further £70m investment into lowering pricing for customers as its losses narrowed after the sale of its forecourts business to Asda. The retailer pumped £20m into price cuts in the first half year and said it now has plans for a further £70m investment, which includes 200 reductions for users [...]
Online sales tax gets canned for its ‘complexity’ November 17, 2022 Jeremy Hunt has scrapped the online sales tax, moving away from plans to better support the high street. Following a consultation, the Chancellor decided to dump the tax, reflecting the concerns about the complexity of the move, as well as “creating unintended distortion or unfair outcomes between different business models”. The levy was designed to [...]
Gucci, Prada, and Burberry are no longer in Vogue as ‘richcession’ bruises luxury sales March 20, 2024 A profit warning from the parent brand of Gucci has sunk the share price of not only the brand but also its rivals, in the latest sign that luxury designers are falling out of fashion with investors.