25% off for 25 years: British Airways Marks its Silver Anniversary at London City Airport with 25% off Flights and the Hospitality Industry Joins to Celebrate
Inflation, interest rates and tax: What happened in the economy this week? October 18, 2024 The health of the UK economy is attracting more and more attention as the Budget draws nearer, and there was plenty for commentators to digest this week. Here’s a brief recap: What to make of this week’s news? First, the danger of inflationary persistence seems to be diminishing, with noticeable progress on both wage growth [...]
Mike Ashley’s Frasers Group backs N Brown takeover amid Mulberry pursuit October 18, 2024 Mike Ashley’s Frasers Group has backed the £191m proposed takeover of JD Williams-owner N Brown and announced the sale of its 20 per cent stake in the company for £38m. The retail empire, which includes Sports Direct and House of Fraser, holds nearly 95,000,000 shares in the Manchester business and will sell them for 40p [...]
Mothercare continues to struggle but announces fresh financing October 18, 2024 Baby products brand Mothercare has reported a drop in sales as it continues to struggle with post-pandemic demand, but has said its new deal with Indian giant reliance will help to shape a turnaround. The retailer said the decline was mainly due to “continuing challenges” in Middle East markets. It told markets this morning that [...]
Retail sales rise unexpectedly despite Budget tax fears October 18, 2024 Retail sales came in ahead of expectations.
Vertu Motors: Profit at car dealership giant falls as UK sales stall October 16, 2024 Profit at car dealership Vertu Motors reversed during the first half of its financial year as UK sales of new cars stalled. In interim results filed with the London Stock Exchange, Gateshead-headquartered Vertu Motors reported a pre-tax profit of £22m for the six months to 31 August, 2024, down from the £30.1m it achieved in the [...]
Procook: Kitchenware brand serves up ‘pleasing’ results October 16, 2024 Kitchenware brand Procook offered a “pleasing” set of quarterly results, analysts said, as the group delivered a fifth consecutive quarter of retail growth. Procook’s revenue jumped to £17m in the quarter, an 8.8 per cent increase from the previous year, thanks largely to a 12 per cent increase in Ecommerce sales. However, the larger retail [...]
I saw inside an AI-powered Amazon warehouse – here’s what I thought October 16, 2024 Last week, I got a behind-the-scenes look at one of Amazon’s new AI-powered warehouses, in what felt like a glimpse into the future. Inside the 3.5m square foot facility in Nashville, Tennessee, Amazon was finally unveiling the fruits of its AI strategy, revealing a fleet of new AI-powered robots and tools designed to increase efficiency [...]
Boots: Online and makeup sales boost earnings ahead of Christmas October 15, 2024 High street pharmacy chain Boots has said a surge in sales online and for makeup helped increase its turnover during its latest financial year. The Nottingham-headquartered company has revealed its year-on-year turnover increased by 6.9 per cent in the 12 months to 31 August, 2024. During its final quarter, its retail sales rose by 6.2 [...]
Klarna grows UK network by a third in buy-now pay-later boom October 15, 2024 Klarna said its network of UK merchants has grown by roughly a third over the last year in a sign of booming demand for buy-now pay-later services among British consumers.
Fenwick: John Lewis rival slumps into the red and cuts jobs October 15, 2024 Department store chain Fenwick slumped back into the red and cut jobs as it battled the cost-of-living crisis and a “changing retail environment”. The Newcastle-headquartered business has reported a pre-tax loss of £28.3m for the year to 26 January, 2024, having previously made a pre-tax profit of £57.1m in the prior 12 months. Newly-filed accounts [...]