Next faces shareholder pressure over worker pay May 21, 2026 Shareholders in Next are set to put pressure on the retail giant to take action on its “reliance” on low-paid labour. At Next’s annual general meeting on Thursday, a group of investors will call on the retailer to take further action on worker pay and adopt the “real living wage” for all employees. But the [...]
Costco UK profit soars as Brits buy in bulk amid cost of living pressures May 20, 2026 Profit at Costco’s UK subsidiary has soared as Brits flocked to the wholesaler to buy in bulk in a bid to swerve cost of living pressures. The grocery chain, which has 29 stores across the UK, including six in London, generated pre-tax profit of £218.6m in the year to the end of August 2025, a [...]
M&S boss says supermarket price caps ‘completely preposterous’ May 20, 2026 The boss of M&S has dubbed government proposals to urge supermarkets to cap the prices of foods as “completely preposterous”. Stuart Machin, chief executive of the retail giant, called on the government to cut red tape and taxes on grocers instead of pressuring supermarkets to cut prices. The Treasury has reportedly been asking supermarkets to [...]
M&S profit slumps in fallout from cyber attack May 20, 2026 Marks & Spencer saw its profit slump by a quarter as the retailer took more than a £100m hit from its “traumatic” cyber attack last year. The FTSE 100 supermarket and clothing business saw pre-tax profit fall by 29 per cent to £365m in the year to March, despite sales growing by 25 per cent [...]
As it happened: FTSE 100 rises as oil slips; Analysts warn of ‘short-lived’ inflation drop May 20, 2026 Good morning and welcome back to the City AM liveblog. The City has welcomed news of undershooting inflation this morning, but warning signs already suggest it’s a temporary blip. The Consumer Price Index rose 2.8 per cent in the 12 months to April, that’s under the three per cent pencilled in and a major drop [...]
John Lewis, Debenhams censored over Black Friday ads May 20, 2026 John Lewis, Debenhams and Boots have been censored over “misleading” Black Friday ads after being accused of overstating the discounts on offer to shoppers. The three retail giants have had their adverts banned by the Advertising Standards Authority (ASA), which monitors ads using an AI-powered tool. The watchdog has been cracking down on retailers’ pricing claims [...]
City analysts brand SNP food price cap ‘hair brained’ May 19, 2026 Top city analysts have slammed the SNP’s pledge to cap food prices as “hair brained,” as the party’s leader refuses to walk back from the policy. City broker Shore Capital said the SNP’s proposals to cap the prices of some foods would risk diminishing choice, hampering investment in Scotland’s food industry and could even threaten [...]
Black Sheep Coffee founder: ‘The Square Mile is a magical place’ May 19, 2026 Black Sheep Coffee was founded in the Square Mile but has now expanded across the world. Its co-founder tells Felix Armstrong about his roots in the City Gabriel Shohet is a company man. The Black Sheep Coffee founder enters the meeting room at the coffee chain’s Southwark offices clad in a branded hoodie, with a [...]
Cranswick: Pig farmer pivots to bite-sized falafels as Brits embrace weight loss trend May 19, 2026 A food conglomerate founded by pig farmers has been rewarded by its expansion into share-sized Mediterranean foods as weight-loss jabs and health kicks surge in popularity. Cranswick was established by a group of Yorkshire pig farmers in 1972, but has since expanded into falafel and houmous with its acquisitions of Mediterranean food brands like Ramona’s [...]
Dr Martens shares rocket after kicking down costs May 19, 2026 Dr Martens shares rocketed in early morning trading on Tuesday, after sharp cost-cutting across the business delivered significant profit growth. Shares in the shoemaker soared 8.5 per cent in early trading to 69.8p, with shares up 22.1 per cent over the last year, following its latest annual results. But the share price remains down 7.4 [...]