BAT: Lucky Strike maker has 900,000 new customers in vape and e-cigarette shift June 6, 2023 Lucky Strike maker British American Tobacco has seen its share price jump this morning after its new chief executive predicted a three – five per cent rise in organic revenue this year thanks to its decision to ramp up investment in cigarette alternatives. Its shares rose 1.26 per cent when markets opened this morning, as [...]
Primark owner buys up milk records-keeper in near-£50m deal June 6, 2023 Primark-owner ABF has bought National Milk Records, a key part of the milk industry, as it strengthens its agri-food business
Simply Be and Jacamo owner hit by revenue fall and warns 2024 will be tough June 6, 2023 The owner of Simply Be and Jacamo has told investors that it expects the hangover of high inflation and low consumer confidence to continue to impact the business next year, as the retailer posts a 82.6 per cent decline in profit before tax. N Brown, which trades solely online posted a 5.3 per cent decline [...]
Cost of weekly shop continues to rise as Brits opt for TV nights in June 6, 2023 Brits are continuing to fork out more on their weekly shop, with households spending 8.9 per cent more on groceries year on year, with the nation increasingly turning to takeaways and nights in front of the telly in efforts to cut down on spending costs. During May, consumer card spending rose just 3.6 per cent [...]
Asos share price leaps after report of £1bn takeover bid June 5, 2023 Asos‘s share price jumped 11.8 per cent this morning after a report emerged yesterday that the struggling retail chain received a £1bn takeover bid from a Turkish retailer backed by Chinese e-commerce giant Alibaba. Trendyol, an up-and-coming fast fashion retailer, was understood to have approached Asos in late December, according to a report in The [...]
Craft breweries battered by soaring operational costs June 5, 2023 Soaring operational costs and a greater competition between brands have battered the UK’s brewery industry with the number of beer factories going under tripling over the past year. The number of breweries which have become insolvent has risen from 15 to 45 over the last year, new figures out from audit, tax and advisory firm [...]
Retailers urge rethink on net zero ‘grocery tax’ as public blame Brexit for rising costs June 4, 2023 Top retailers have urged the government to rethink plans for green levies to fund the recycling of food packaging in a bid to avoid a further rise in spiralling food costs. The British Retail Consortium (BRC) has warned the scheme, dubbed the ‘net zero grocery tax’, could push up shopping bills by up to £4bn [...]
‘Feeding time’: Why one retail group is on the hunt for distressed operators June 4, 2023 A business group which rescued upmarket chocolatier Montezuma from collapse has said it is looking to continue on its acquisition spree – noting that the current tough trading climate is “feeding time” for stronger players in the market. “In recent years, there have been so many distressed businesses that we have been able to pick [...]
Asos approached in £1bn takeover bid by Turkish fast fashion peer June 4, 2023 A Turkish retailer backed by Chinese e-commerce giant Alibaba has reportedly offered a £1bn bid to take over Asos, in a fresh knock of confidence for the future of the digital fashion brand. Trendyol, an up-and-coming fast fashion retailer, was understood to have approached Asos in late December, when the brand was facing dwindling sales [...]
Simply Be and Jacamo owner hopes for a rebound after bumpy few months June 4, 2023 Investors in online retailer N Brown will be looking for signs of recovery in its full year results this week after the firm paid out a hefty legal settlement and has struggled amid a broader slowdown in consumer spending. N Brown, which owns brands such as Simply Be and Jacamo, reported a 7.6 per cent [...]