British high street is not dead, minister insists after Wilko collapse September 14, 2023 The British high street is not dead but merely changing, ministers have insisted, after Labour accused the government of “giving up” on retail following the collapse of Wilko. Business minister Kevin Hollinrake insisted high street shopping is “reshaping itself”, as homeware shop the Range confirmed it will buy Wilko’s brand, website and intellectual property after [...]
Rents rise by £110 a month over last year in latest blow for UK tenants September 14, 2023 The cost of renting a property has risen by £110 a month over the last 12 months, according to the latest damning report about the health of the UK’s housing sector, as shrinking supply in the market continues to pile on misery for tenants. Rent supply has shrunk 30 per cent below the average for [...]
Redrow: Another housebuilder warns on ‘standstill’ market as mortgage rates bite September 13, 2023 Redrow has become the latest housebuilder to be battered by a cratering market as it posts a four per cent slide in profit before tax to £395m in its full year results.
Fever-Tree: Boss blames ‘vagaries’ of British summer for lower profit expectations September 12, 2023 Fever Tree said it had been battered by Britain's unpredictable weather, as a wash out summer led it to cut annual profit expectations.
Wickes on track to hit guidance for year despite near 40 per cent fall in profit September 12, 2023 Wickes has said it continues to trade in line with expectations after recording a 0.7 per cent uplift in revenues to £827.7m, despite a near 40 per cent slide in profits before tax. The London-listed DIY and home improvement retailer was bolstered by sales in its Do It For Me (DIFM) offering, with sales up [...]
RIP Wilko: How another high street chain went to the wall September 11, 2023 After more than 90 years on the high street, Wilko and all its 400 stores will vanish by early October. Its 12,500 staff were hoping that HMV owner Doug Putman would be able to close a rescue deal that would see several hundred stores saved. But the Canadian entrepreneur abandoned talks with the high street [...]
Wilko to shut all 400 stores, putting 12,500 jobs at risk September 11, 2023 All 400 Wilko stores will shut, putting 12,500 jobs at risk, according to a statement from the GMB union. Staff were informed about the development this morning and the group warned that it is now likely that all staff will be made redundant. It comes after a deal to acquire around 100 Wilko stores by [...]
Heatwave a ‘huge relief’ for hospitality sector after miserable summer September 9, 2023 The September heatwave has come as a “huge relief” for the hospitality sector after a miserable July and August, leading industry figures have said. Soaring temperatures over the past week have “brought back the feelgood factor” for business owners across the industry, they added. Thursday was provisionally the hottest day of the year so far, [...]
Pets at Home and CVS shares plunge after CMA vows to investigate veterinary fees September 7, 2023 Shares in British veterinary services firms Pets at Home and CVS Group plunged on Thursday, after the UK’s antitrust watchdog launched a review into the market amid concerns that pet owners might not be getting a good deal. The Competition and Markets Authority (CMA) will look into the fees charged for veterinary services amid soaring [...]
Currys sticks to full-year guidance despite falling sales September 7, 2023 Currys has said it is sticking to its annual profit guidance despite recording a 4% fall in group sales in the 17 weeks to August. The British electrical goods seller reported a 2% dip in like-for-like sales in its UK and Ireland (UK&I) division as consumers put off buying expensive goods amid the cost of [...]