Discounter B&M worth more than Sainsbury’s as profits soar over Covid-19 lockdown November 12, 2020 High street discounter B&M has reported a 95% rise in first-half core earnings as its low prices and out-of-town stores chimed with consumers during the Covid-19 pandemic.
Food promotions now make up 22.5 per cent of grocery sales – and it’s up a fifth from last year July 25, 2023 Promotions on food and other items now account for 22.5 per cent of grocery sales, as Brits continue to seek out bargains amid the cost of living crisis. The figure has risen from 20 per cent last year in the same period last year and is the highest over the past 12 months excluding Christmas and [...]
3i Group: Inside Britain’s biggest retailer you’ve probably never heard of September 24, 2024 £32.5bn investment trust, 3i Group, owns Britain’s biggest retailer: Action. You’ve likely never heard of Action, and that’s because it doesn’t actually operate in the UK, instead having close to 3,000 stores across 12 European countries like Germany, the Netherlands and France. The group is kind of like B&M: Selling items at a low cost, [...]
Which retailers went bust in 2023? December 30, 2023 City A.M takes a look at the biggest retailers which went bust this year — leaving a gaping hole in our high streets and our hearts.
High street struggles: 2,000 local stores, pubs and hairdressers wiped away this year September 21, 2023 Nearly 2,000 independent local stores were left vacant in the first half of this year, as the cost of living crisis continues to eat away at the health of the high street and small businesses. Some 1,915 independent businesses on high streets, retail parks and shopping centres closed in the first leg of this year, marking [...]
FTSE 100 live: London index steady as China growth target disappoints investors March 6, 2023 The FTSE 100 has barely moved this morning, after China disappointed investors with modest growth targets for the year.
B&M set to smash expectations as retailer reports lockdown boost July 28, 2020 B&M European Value Retail hailed a “strong” first half of the year on the backdrop of the coronavirus crisis, with earnings for the six months to September set to smash analysts’ expectations. The group expects adjusted earnings before tax, amortization and depreciation for the six months to 26 September to be between £250m and £270m, [...]
Exclusive: Poundland owner opens 3,000th Pepco store amid discount frenzy December 1, 2022 Discount giant Pepco has opened its 3,00th store, with a new Berlin site, as momentum swells for affordable goods while households tighten their belts. The owner of the Pepco, Dealz and Poundland brands told CityA.M. its 3,000th Pepco store opened its doors today, with plans to roll out hundreds more stores in the near future. [...]
FTSE 100 close: London powers into the green thanks to strong performance from Auto Trader and Astrazeneca November 9, 2023 Shares in Flutter sunk after it said it had experienced a downturn in its Australian business. Revenue fell 18 per cent year-on-year due to regulatory hurdles and a "challenging racing market".
Budget Britain: Inflation forces families to trade down and opt for staycations June 28, 2023 Britons are trading down to cheaper products and are opting to holiday at home in response to rampant inflation and higher interest rates squeezing their budgets, new research out today shows. Some 40 per cent of families have been buying more value or own brand products in 2023, according to analysis from consultancy KPMG. The [...]