Gopuff to increase fees as it hopes to deliver first UK profit after cutting almost 1,000 jobs August 29, 2024 Delivery company Gopuff is to up its fees as it targets turning its first-ever UK profit in the coming years after shedding almost 1,000 jobs in 2023. The US-headquartered company reduced its UK headcount from 1,707 to 842 last year, according to newly-filed accounts with Companies House. The consumer goods and food delivery company, which [...]
Vision Express makes first profit since 2016 as sales near £400m August 29, 2024 Vision Express returned to the black for the first time since 2016 as its sales jumped towards the £400m during its latest financial year, it has been revealed. The Nottinghamshire-headquartered company has reported a pre-tax profit of £7.9m for 2023, having posted a pre-tax loss of £173,000 in 2022, according to newly-filed accounts with Companies [...]
Quiz plots turnaround strategy after fashion chain swings to loss August 29, 2024 High street retailer Quiz has announced a turnaround strategy after swinging to a loss in its final year earnings, blaming cost-of-living pressures and cool consumer demand. The Glasgow-headquartered company booked a loss before tax of £6.7m, including a £1.5m non-recurring impairment charge, falling from a profit of £2.3m in 2023. Earnings before interest, tax, depreciation [...]
Higher price of milk warning issued by Cravendale maker Arla Foods amid shortage August 28, 2024 Arla Foods, the maker of brands including Cravendale, Skyr and B.O.B milk, has warned that customers will face higher prices in the coming months amid a shortage of milk on a global level. The company said it “anticipates that volatile market conditions driven by geopolitical tension and uncertainty” will continue but that a positive trend [...]
Kurt Geiger: London luxury brand enjoys Taylor Swift Eras Tour boost amid record handbag sales August 28, 2024 A surge in demand for denim handbags and footwear linked to Taylor Swift‘s global Eras Tour have helped sales at luxury brand Kurt Geiger jump by 35 per cent since the start of its latest financial year. The London-headquartered business said that Western and Americana-themed products have helped boost its turnover further between February and [...]
Asda, Tesco and UK retailers face anxious wait after Next loses £30m equal pay claim August 27, 2024 Britain's supermarkets face an anxious wait after fashion retailer Next lost a major legal battle today over unequal pay in its UK operations.
Totally Wicked: Do vaping companies cause more harm than good? August 27, 2024 Boardroom Uncovered is City A.M.‘s on-camera interview series featuring the bosses of the biggest and best-known companies operating in the UK.
Primark owner AB Foods’ shares drop after investors advised to sell up August 27, 2024 Shares in Associated British Foods, which owns British stalwarts like Primark, Kingsmills and Twinings, dropped this morning after stockbroker Deutsche Numis downgraded its rating from ‘hold’ to ‘sell’. Shares in the FTSE 100 firm, which owns businesses in five segments including grocery, sugar, agriculture, ingredients and retail, dropped more than three per cent in early [...]
Arts and crafts giant Hobbycraft sold to Ted Baker investor August 27, 2024 Hobbycraft, which is one of the UK’s biggest arts and crafts retailers, has been snapped up by a specialist investor whose team has previously supported chains including Paperchase and Tie Rack. Investment group Modella Capital announced it had bought the Bournemouth-headquartered company from its majority owner, the fund management group Bridgepoint, for an undisclosed sum. [...]
Applied Nutrition limbers up for £500m London Stock Exchange debut this year August 27, 2024 Protein shake maker Applied Nutrition has confirmed plans for a potential £500m float on the London Stock Exchange today in the latest sign of life for the capital’s beleaguered bourse. In a statement to the market, the Liverpool-based health and wellness brand said it was gearing up for an IPO on the main market of [...]