River Island looks to break America with ‘long term’ plan September 25, 2022 River Island is readying to make its first physical footprint across the pond, after online sales have surged in the US. US sales are now several times bigger than pre-pandemic levels, according to the fashion firm’s chief executive Will Kernan. After the brand has seen surging popularity in locations such as California, New York, Texas [...]
The traditional Great British Sunday Roast risks dying a slow and painful death September 25, 2022 A quarter of all British cooks say they are now less likely to prepare a Sunday roast and nearly a fifth say they will no longer use their oven at all as they respond to the cost-of-living crisis. Soaring energy costs appear to already be influencing kitchen habits, with 23 per cent of cooks saying [...]
Mini-budget: Kwarteng gives boost to pubs in cancelling increase on alcohol duties September 23, 2022 Chancellor Kwasi Kwarteng has announced that increased duties on alcohol will be cancelled, in a bid to support pubs, bars and breweries. In today’s mini-budget he said the government will introduce an “18-month transitional measure for wine duty” and “extend draught relief to cover smaller kegs of 20 litres and above”. The measures comes as [...]
Wardrobe staples collection gives rapidly growing online fashion retailer In The Style another boost September 23, 2022 The successful launch of a wardrobe staples collection has given online fashion retailer In The Style a major boost, prompting the company to say this morning it is making solid progress in its growth plan. The own-brand staples range marked a step away from its traditional influencer campaigns and will bring in more sales opportunities, [...]
The Works continues post-pandemic comeback as arts and crafts sales soar September 23, 2022 The Works continues its valiant post-pandemic comeback as revenue climbs for the high street arts and crafts store. For the year ending 1 May, total revenue hit £264.6m for the retailer, up 46.5 per cent compared with 2021 levels. This was bolstered by the fact that two-year like-for-like sales climbed 10.5 per cent, with positive growth [...]
Made.com to cut staff as it mulls sale of the business September 23, 2022 Beleaguered retailer Made.com said it will conduct a strategic review of its future options, including job cuts and possible sale of the business. The online furniture and homewares firm came to market in January last year at a price of 200p per share, valuing the group at £775m. The shares have steadily slumped ever since [...]
Revolution Beauty calls in independent investigators over ‘serious’ auditing concerns September 23, 2022 Revolution Beauty has called in the investigators after auditors continue to flag “serious concerns”. The auditor BDO has recommended that the beauty firm appoint independent external advisers to carry out an independent investigation, adding to the initial announcements made last month surrounding “certain accounting issues”. Revolution said this morning that it has hired City law [...]
Revenues soar for Ten Lifestyle as banks splash the cash September 22, 2022 Interest rate hikes have boosted concierge group Ten Lifestyle’s revenues as banks with cash to splurge spend shell out on its services. Ten, whose clients include Coutts and Natwest Black, said net revenue for the year rose 35 per cent to around £46.8m yesterday, beating forecasts of £45m. The UK firm offers preferential access to [...]
Exclusive: The City’s best-known headhunter on decades in the midst of the action September 22, 2022 One of London’s biggest executive search companies, Anthony Gregg Partnership, is celebrating its 20th year in business this week. Time for City A.M. to sit down with chief executive Tony Gregg to look back on the last two decades as he opens up about what the anniversary means to him and to hear what the Square Mile insider [...]
Lidl now highest-paying supermarket in UK with £39.5m investment in staff salaries September 22, 2022 Discount giant Lidl has committed £39.5 in salary increases to its store and warehouse staff, becoming the highest-paying supermarket in Britain. The retailer is increasing hourly rates from £10.10 to £10.90 outside the capital, and within London, hourly wages will go up to £11.30 and £11.95 inside the M25. , Some workers are set to [...]