Amazon deal boosts Games Workshop ahead of Warhammer TV series September 15, 2023 Warhammer owner Games Workshop has said its trading performance for the three months ending 27 August has shot past expectations set by the board, as the company is spurred by a mega-deal with Amazon. Licensing revenue nearly doubled at £6m compared to last year’s £3m in the same period, while core revenue soared to £121m, [...]
Supermarkets hike prices to make loyalty card customers feel like they are getting a discount, new study claims September 15, 2023 Supermarkets such as Tesco and Sainsbury’s could be hiking their ‘regular’ prices to make loyalty scheme customers feel they are getting a discount, according to a new report by Which. The consumer choice group analysed 141 Clubcard and Nectar card prices at Tesco and Sainsbury’s and tracked their pricing history back six months. According to [...]
M&S turned it around and is now in FTSE 100. Here’s why John Lewis is so far off September 14, 2023 The John Lewis Partnership has had a torrid day, following an announcement it will push its turnaround plan back by two years. It’s the latest bit of bad news that has seen it fall further behind rival Marks and Spencer, whose high street revival recently raised its profit outlook after pivoting towards clothing and homeware. [...]
H&M West End: Flagship London store starts recycling drive with ‘clothes ready to be loved again’ September 14, 2023 Fast fashion retailer H&M is to sell secondhand clothes at its Regent Street flagship store from October — offering items that are “ready to be loved again”. The Swedish clothing giant will feature a range of clothes and accessories from H&M and beyond as part of its “pre-loved” initiative. The industry has been under mounting [...]
Gousto eyes return to profit after slashing jobs in the wake of post-pandemic losses September 14, 2023 Gousto, the recipe box delivery service, has said it is on track to return to profit this year, following a year of losses fuelled by soaring inflation and economic headwinds. But losses for the business, whose backers include wellness guru Joe Wicks, widened to £157.6m in 2022, against £19.9m a year earlier, blamed on spiralling [...]
British high street is not dead, minister insists after Wilko collapse September 14, 2023 The British high street is not dead but merely changing, ministers have insisted, after Labour accused the government of “giving up” on retail following the collapse of Wilko. Business minister Kevin Hollinrake insisted high street shopping is “reshaping itself”, as homeware shop the Range confirmed it will buy Wilko’s brand, website and intellectual property after [...]
Lidl swings to loss of £76m as fight to keep prices low offset by surging costs September 14, 2023 Discount supermarket chain Lidl has revealed its British arm swung to an annual loss after battling to keep a lid on prices as its costs rose “across the board”. The group reported pre-tax losses of £76 million for the year to February 28 against profits of £41.1 million the previous year as it also invested [...]
John Lewis pushes turnaround plan back two years as losses narrow September 14, 2023 Losses at John Lewis have shrunk but the struggling retailer warned that its ambitious partnership plans have been pushed back two years.
THG: Cash flow improves at digital commerce giant September 14, 2023 THG, the Manchester-based digital commerce giant, has posted EBITDA above the top end of guidance in the first half of the year.
Birkenstock: Hippie sandal files for NYSE listing in further boost for US market September 13, 2023 Sandal maker Birkenstock has filed for an initial public offering on the New York Stock exchange, in a further boost for the US market.