Asda hands reins to former Morrisons boss in turnaround push November 3, 2026 Asda has named a former Morrisons boss as its new chief executive as the embattled grocer looks to accelerate its turnaround efforts. David Potts, who also spent four decades with Tesco, will take over the reins with immediate effect, prompting veteran boss Allan Leighton to step back into a non-executive chairman role two years after [...]
Hugo Boss outlook worsens after Mike Ashley’s Frasers takes control November 3, 2026 Hugo Boss has cut its outlook for sales and profit in the face of weakening consumer demand, just days after Mike Ashley’s Frasers Group took control of the German fashion house. The luxury retailer had been expecting its performance to take a hit from its turnaround plan but told shareholders this has been worsened by [...]
Primark sales slip ahead of ABF exit in ‘challenging’ backdrop November 3, 2026 Primark has seen its sales slip as its owner, Associated British Foods, races to shape up the fast-fashion retailer ahead of its exit from the group next year. Like-for-like sales at the retailer slipped by 2.6 per cent in the year to September, dragged down by “weak” consumer confidence and less advanced turnaround efforts in [...]
As it happened: FTSE 100 drops; oil reverses gains on hopes of end to US-Iran war November 3, 2026 Welcome back to City AM‘s FTSE 100 liveblog. London’s blue-chip index came under pressure after a mixed bag for oil trading. The price of Brent crude has crept above $106 per barrel following reports of a US attack on Iran’s Qeshm Island, a key strategic military location controlling the Strait of Hormuz. The reported strike [...]
Jenrick lends support to Poundland suitors November 3, 2026 Reform UK’s economic spokesman Robert Jenrick has revealed he is supporting potential bidders for discount retailer Poundland as he criticised the group’s “greedy” owner Gordon Brothers for pushing the business towards insolvency. Over the weekend, Jenrick suggested the government should intervene in the possible insolvency of Poundland, which would put some 12,000 jobs at risk, [...]
Can Marks & Spencer’s TikTok star help it ‘dump the frump’? November 2, 2026 Marks & Spencer will face shareholders on Wednesday, with hopes of presenting a lift from its breakout social media star, Kathryn Turner, writes Felix Armstrong. Ditch the fake blood and vampire fangs: Britain’s viral Halloween costume this year featured a white shirt, a blue sweater vest and a blonde wig. Kathryn Turner, Marks & Spencer’s [...]
As it happened: FTSE 100 reverses losses as oil drops to $105 November 2, 2026 Welcome to City AM‘s FTSE 100 liveblog. It’s a new week in the City and global markets are gearing up for a chain of big events. Chief among them is the US midterms, which could have a major impact on the ongoing conflict in the Middle East that has sent the price of oil soaring. [...]
Just one country remains in Tesco’s decades-long global retreat November 2, 2026 Tesco’s sale of its Czech and Slovak businesses is the latest step in its long retreat from a once-sprawling global presence. Felix Armstrong traces this journey Tesco’s hold on the British grocery market is unmatched. Holding a towering 27.8 per cent market share across more than 3,600 shops, the supermarket chain is a fixture on [...]
Poundland on brink of collapse as it files notice to appoint administrators October 29, 2026 Poundland is teetering on the edge of collapse after its directors filed a notice of intent to appoint administrators, in a move that puts the future of its thousands of workers in doubt. The company made the filing to the High Court on Thursday, suggesting that AlixPartners, its administrators, could be formally called in to [...]
Haleon shares crater as soft flu demand hits takings October 29, 2026 Shares in Haleon slumped after soft demand for cough, cold and flu medicines forced the consumer healthcare giant to cut its revenue target. The FTSE 100 firm lost more than 11 per cent in early trading, to 333p. Haleon had been expecting revenue growth of between three and five per cent but on Thursday trimmed [...]