Next boss Simon Wolfson takes record £7.4m pay packet Retail Next boss Simon Wolfson took home a bumper £7.4m pay packet last year, as his best-ever pay day could be beaten by next year’s £9.3m – if the firm meets growth targets. Wolfson’s total pay soared from £4.9m the year before, as he took £967k in basic pay and more than £6m in bonuses. The [...]
Next unveils huge development in £2.5bn economy boost Retail Retail giant Next has unveiled a huge new development which it says will add £2.5bn to the economy, as the FTSE 100 firm invests over £300m in its warehouses. The firm has been granted planning permission to build a new 1.2m sq ft warehouse in its Elmsall complex in Yorkshire, with construction set to commence [...]
Next: Iran war costs retailer £15m and could push up prices Retail High street giant Next has said it will take a £15m hit from the soaring air freight and fuel prices caused by the Iran war, as it races to make savings elsewhere to offset the costs. The FTSE 100 firm said it expects the conflict to constrain its growth in the Middle East, which accounts [...]
Matalan gets £25m investment boost for store upgrades March 6, 2026 Clothing retailer Matalan has secured a £25m funding boost from its investors despite facing falling revenue and job losses last year, City AM can reveal. The firm’s core investor group – Invesco, Tresidor, Man Group and Napier Park – have committed the funding to accelerate the retailer’s plans to revamp its stores. The funding boost [...]
Associated British Foods shares slide after Primark sales slump January 8, 2026 Shares in Associated British Foods (ABF), the owner of Primark, tumbled in early trading on Thursday morning after the FTSE 100 giant warned of a “difficult trading environment” and downgraded the fashion retailer’s growth forecasts. ABF, which owns the chain alongside its wholesale food business, said like-for-like sales across continental Europe declined as much as [...]
Green shoots? UK retail sales beat expectations in January February 21, 2025 Brits returned to the shops in January as discount spending fueled the first monthly rise in retail sales volumes since last August. Retail sales volumes rose 1.7 per cent in January, following a fall of 0.6 per cent in December, according to the ONS. Analysts had expected growth of just 0.3 per cent. This was [...]
M&S revamps leadership team in next chapter of transformation February 7, 2025 Marks and Spencer has announced significant changes to its non-food leadership team as it enters the next phase of its turnaround project. Clothing and home director, Richard Price, will be replaced by ex-Boohoo CEO, John Lyttle. Lyttle headed Boohoo for five years, but left last Autumn amid claims of “corporate espionage”, with allegations he was [...]
Seasalt: Cornish clothing brand bucks retail gloom over festive season January 7, 2025 Cornish retailer Seasalt has defied the despondent British high street and reported a significant uptick in sales over the Christmas season despite significant cost pressures. Total sales across online, stores, and marketplace partners like M&S increased by 10 per cent compared to last year in the last five weeks of the year, with every channel [...]
River Island ‘positive’ about future despite £30m losses October 10, 2024 High street retailer River Island has slipped into the red with a £30m loss before tax as it struggles to hold up against online competition and rising costs. The company reported a loss before tax of £32.3m in 2023, down from profit of £7.5m in 2022, according to newly-filed accounts with Companies House. Turnover fell [...]
Mike Ashley’s Frasers Group tables £83m Mulberry takeover bid after capital raise snub September 30, 2024 Mike Ashley’s Frasers Group has tabled a £83m takeover of Mulberry and launched a tirade against its board after allegedly being shut out of discussions over a £10m fund raise. The retail giant, which owns a 37 per cent stake in Mulberry, offered £83m for the rest of the luxury fashion brand, valuing each share [...]