H&M misses sales target as cost-cutting leaves retailer understocked June 25, 2026 H&M slumped to lower than expected sales and profit as the retailer warned that its cost-cutting drive is leaving some stores unable to keep up with demand. The Swedish-listed firm took 54.8bn kronor (£4.2bn) in sales in the three months to the end of May, flat year on year. Its operating profit jumped by 11 [...]
Moonpig embraces tech and upselling as revenue jumps June 25, 2026 Moonpig has credited its tech and upselling capabilities with its rise in revenue, with boosted customer retention and a growing order book. The online card maker recorded a 6.5 per cent rise in revenue in the year ended 30 April, jumping to £373m from £350.1m. Profit before tax swung back to £68.9m from last financial [...]
Halfords shares rev up as garage growth drives return to profit June 25, 2026 Halfords shares have boomed after it smashed analyst expectations to turn a £44m profit, in a sign that the motoring and cycling retailer’s turnaround is beginning to gain pace. The company notched a £43.6m pre-tax profit in the year to April, returning to the black after last year’s £30m loss, as revenue grew five per [...]
As it happened: Stocks higher as oil price sinks; Reeves makes bid to stay as Chancellor June 25, 2026 Welcome back to the City AM liveblog. The price of oil is heading lower this morning as the outlook around the Strait of Hormuz improves. Brent crude – the international benchmark for oil prices – tumbled below $73 per barrel, extending losses for a fourth consecutive session. These moves helped wipe out all the gains [...]
Gousto puts 290 jobs at risk in warehouse closure June 24, 2026 Recipe box maker Gousto has put 290 jobs at risk as part of its plans to close a warehouse in Lincolnshire. The company, which delivers food boxes for people to cook meals at home, said it is closing its Lincolnshire base in a bid to keep prices down in a competitive market. Gousto, a rival [...]
B&M poaches Asda exec in bid to shake off accounting blunder June 24, 2026 B&M has poached an Asda executive to replace the chief financial officer who quit over a £7m accounting blunder, as the retailer eyes a drastic turnaround. The FTSE 250 firm said on Wednesday that Atheeq Akbar, currently vice president of commercial finance at Asda, will join the firm as chief financial officer next year. B&M’s [...]
As it happened: FTSE 100 scrapes into green after Segro’s surge; Oil at pre-war levels after Trump snaps at industry June 24, 2026 Welcome back to the City AM liveblog. European markets were a mixed bag on Wednesday after a bruising sell-off had investors across the globe dumping their equity exposure. In Europe, the FTSE 100 closed down just shy of 0.1 per cent on Tuesday, undershooting the bigger losses seen on Germany’s Dax at one per cent, [...]
Georgia PM’s Starmer outburst over City AM sanctions scoop June 24, 2026 The Prime Minister of Georgia has launched a bizarre attack on the UK government after City AM revealed that consumer giant P&G had axed its advertising with the country’s biggest media group – and Nestle may soon follow suit. Prime Minister Irakli Kobakhidze described the decisions, which came in the wake of sanctions applied by [...]
Adidas, Calvin Klein and Uniqlo ads banned for greenwashing June 24, 2026 Fashion giants Adidas, Calvin Klein and Uniqlo have been rapped as part of a major probe into corporate greenwashing in adverts. Each of the retailers has had online adverts banned by the Advertising Standards Authority (ASA) for using the term “recycled” in a misleading way. The bans came as part of a major crackdown by [...]
Ticket reseller StubHub UK fined nearly £1m for hiding fees June 23, 2026 Ticket reseller StubHub UK has been ordered by the watchdog to cough up nearly £1m for hiding mandatory extra fees from customers. One of the UK’s largest ticket marketplaces has been fined £900,000 by the regulator for failing to display the total price upfront to fans purchasing tickets. The Competition and Markets Authority (CMA) found [...]