Toys ‘R’ Us returns to high street with new WH Smith partnership June 1, 2023 Toys ‘R’ Us will make its return to the high street after five years, revealing plans to open nine concession stands in WH Smith. In 2017, the children’s retailers declared bankruptcy after years of rising debt and dwindling sales and the following year it shut all 100 of its UK stores. Its collapse was linked [...]
Dr Martens share price tumbles 11 per cent as pre-tax profits miss forecasts June 1, 2023 Dr Martens will launch a share buy back programme of up to £50m as the boot maker looks to up investment following a 26 per cent slide in pre-tax profits following bottleneck issues in its US warehouse. The London-listed retailer hit record revenues during the year of £1bn, as sales recovered post-pandemic and it opened [...]
Bumper Bank Holiday drives footfall levels up June 1, 2023 Bumper bank holidays in May helped hike footfall levels as work-free Brits flocked to the high streets to drink and shop in a welcomed boost for businesses. Footfall over the last month climbed 3.6 per cent, the second month in a row in which levels have risen following a 3.3 per cent jump in April, [...]
Supermarkets scramble to cut diesel pump prices amid watchdog probe June 1, 2023 Supermarkets are rushing to cut the cost of diesel after the Competition and Markets Authority (CMA) announced a probe into whether a “failure in competition” between supermarkets is leaving Brits paying more than they should be at the pumps. According to RAC analysis, major retailers have “quickened the pace” of diesel cuts, with the average [...]
It has to be Heinz? Not in this economy, till reports suggest May 31, 2023 Shoppers are continuing to switch to supermarket ketchup, milk and cereal own-brands to cut down on spending amidst the cost of living crisis. Volume sales in store branded products surged 63.3 per cent in the fast moving consumer goods (FMCG) category during May, figures by consumer intelligence company NIQ show. Food prices have surged since [...]
Slowing UK economy appears good news for discount retailer B&M May 31, 2023 Brits seeking out bargains has helped drive B&M customer numbers up every month since June, as the group plans to roll out 30 more stores across the UK to up keep demand. For the year, the budget chain, which sells homewares and food, gained revenues of £4.9bn up from £4.6bn, as the group improved its [...]
How airports and captive audiences are driving a revenue spike at WH Smith May 31, 2023 WH Smith continued to reap the benefits of resurgent post-pandemic travel demand, with the newsagent improving its expectations for the financial year in a trading update this morning, on the back of a 31 per cent year on year rise in revenues from its airport shops. In the 13 weeks to May 27, the newsagent [...]
The cost of living crisis has an unlikely winner: the book industry May 31, 2023 Publishing group Bloomsbury raked in record sales last year as Brits buried their heads in books and "cut back on more expensive forms of diversion" through the cost of living squeeze, the firm revealed today.
‘You can’t interfere in the markets,’ Asda boss tells government over food price caps May 30, 2023 Veteran retail boss Stuart Rose has warned the government of “unintended consequences” around encouraging supermarkets to impose price caps on food staples to cut the cost of living. Asda chairman Lord Rose, who also ran Marks and Spencer and chaired Ocado, said “you can’t interfere in the markets” and warned of the “unintended consequences” of [...]
Waitrose and M&S meal deal supplier Greencore reports revenue boost by a fifth May 30, 2023 A sandwich and sushi maker supplying UK supermarket giants from M&S to Waitrose has reported a surge in revenue after upping its prices – and revealed it axed around 250 jobs. Greencore told investors it sunk to a loss this year after battling higher costs. The Dublin-based convenience food manufacturing firm said its revenue jumped [...]