Frasers: Chief calls for reform of ‘outdated’ business rates regime September 18, 2023 The boss of Frasers Group, Michael Murray, has described the business rates regime as a “disaster” and urged the government to overhaul the system.
Ocado looks to settle City jitters over sluggish demand September 17, 2023 Retail tech group Ocado is looking to settle jitters over sluggish demand from shoppers this week as it updates the City after following a bruising nine months.
Next: Can the retail powerhouse continue its strong summer momentum? September 17, 2023 Next has continued to defy expectations, with the retail giant continuing to outperform rivals
Youths ‘film shoplifting for TikTok’ as businesses call for government aid September 16, 2023 Shoplifting and abuse at independent shops are increasing due to the cost-of-living crisis and youths filming it for TikTok, forcing some businesses to close, it has been said. Muntazir Dipoti, president of the Federation of Independent Retailers (FIR), which has 10,500 members, said 850 incidents of theft or verbal abuse are recorded every day. Incidents [...]
How lab-grown diamonds could solve ethical and price problems to be next crown jewel September 16, 2023 Petra Diamonds share price took a three per cent tumble on Friday morning, following news that the number of rough diamonds it sold slumped by 33 per cent. Adjusted profit before tax also fell by a whopping 95 per cent $8.3m (£6.7m), driven by a drive decline in total diamond production. The FTSE 250 company [...]
Pubs, bars and restaurants get al fresco boost as City of London extends pavement licences September 15, 2023 Pubs, bars, cafes and restaurants in the Square Mile will be able to continue offering ‘al fresco’ dining into next summer, after the City of London Corporation agreed to extend pavement licences to hospitality businesses, up to September 2024. The local authority said it acknowledges how hard the hospitality sector was “hit by the pandemic.” [...]
Transport for London renames Bond Street ‘Burberry Street’ – and the internet is not impressed September 15, 2023 Oh dear! A quirky move by TFL to rename Bond Street as Burberry Street in celebration of London Fashion Week, has not gone down well on the internet.. The West-End tube stop which is home to a number of high end stores will now be transformed into Burberry Street for one week while top models [...]
H&M’s summer sales flatline after rival Zara owner cheers boost September 15, 2023 Fashion chain H&M has revealed its sales flatlined in the latest quarter after its biggest rival Zara owner Inditex cheered a stronger performance. The Swedish retail giant said its net sales, in local currencies, were flattish over June to September, compared to the same period last year. The weaker-than-expected quarterly update suggests that the chain [...]
Wilko: High street chain collapsed owing £400m to creditors September 15, 2023 Wilko collapsed with a well over £400m gap in its finances, according to documents published on Companies House, including £157.3m owed to trade creditors. The reports, first published by The Grocer, show that the high street chain owed £411m to unsecured creditors, and a further £25.8m was owed to HMRC. Some of the creditors included [...]
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, [...]