Young punters protect Boxpark sales from consumer slowdown October 13, 2022 Young Londoners receiving inflation-related salary boosts has helped to protect Boxpark from a slowdown in discretionary spending, its CEO has said. The shipping container hospitality concept has seen sales increase by double digits compared to the previous year, with London sites in East Croydon, Shoreditch and Wembley “trading really well,” Simon Champion told CityA.M. The [...]
Boots sales surpass pre-Covid levels as city centres spring back to life October 13, 2022 Boots’ retail sales have exceeded pre-Covid levels for the fourth quarter, thanks to rebounding footfall in city centres. Retail sales were up 15.2 per cent on a like-for-like basis, with stores near transport hubs seeing a particular resurgence. Warm weather and a return of travel abroad also buoyed sales, with store transactions up more than [...]
World Chess plots gambit onto London’s main market October 13, 2022 World Chess has revealed a bold gambit onto London’s main market today as its looks to raise €8m (£6.9m) to fuel the game’s expansion.
Debt campaigners sound alarm over Deliveroo’s Klarna tie-up October 12, 2022 Debt campaigners have sounded the alarm over a “worrying” partnership between Deliveroo and buy-now pay later firm Klarna today which they claim could land cash-strapped Brits in mounting piles of debt.
M&S to speed up plans to close 1 in 4 larger clothing stores October 12, 2022 Marks & Spencer will accelerate its plans to slash the number of its larger stores that sell clothing and homeware products. In an update to investors on Wednesday, the supermarket revealed it would shutter more than one in four of its so-called full-line stores within three years rather than five. Plans also include the opening [...]
Exclusive: Quarter of all Londoners now dip into savings to survive while one in three have zero extra pounds left October 12, 2022 More than a quarter of people in London are being forced to dip into their savings to make ends meet every month, according to fresh data shared with City A.M. today. However, the research also reveals that almost a third of people across London, around don’t have any savings to fall back on – prompting [...]
Frasers Group nabs stake in JD Williams and Simply Be owner October 12, 2022 Frasers Group has snagged a 4.5 per cent stake in online retailer and JD Williams owner N Brown, as the retailer continues to put its stamp on the UK high street. The Sports Direct owner is now the sixth-largest shareholder of the Jacamo and Simply Be owner. “We are always pleased to welcome new shareholders [...]
JD Sports’ chief financial officer to exit sportswear retailer October 12, 2022 Sneaker seller JD Sports has announced the departure of its chief financial officer next year. The London-listed firm will now start hunting for a replacement for Neil Greenhalgh, with new chair Andy Higginson leading the search. Greenhalgh, who has been with the high street staple for almost two decades and in his current role since [...]
Poundland’s owner sales skyrocket as High Street giant gets boost from rapid expansion October 12, 2022 Poundland parent firm Pepco Group has revealed a rise in sales over the past year, boosted by its rapid store expansion programme. The company said total group revenues grew by 17.4 per cent to £4.25bn over the year to September, compared with the previous year. The firm’s Poundland business reported a 5 per cent increase [...]
‘Not a dark kitchen’: Taster to launch two pasta delivery sites a month with Jamie Oliver October 12, 2022 The founder of food delivery start-up Taster has said the firm wants to differentiate itself from dark kitchens, as it aims to roll out two new sites per month for its new pasta brand with celebrity chef Jamie Oliver. Taster hopes to take the Jamie Oliver collaboration “very far” and turn it into the “biggest [...]