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 [...]
Ann Summers: Turnover reaches over £100m as lingerie retailer plots store expansion September 6, 2023 The erotic retailer, which has 88 stores across the UK and Ireland, plans to open four or five more stores in 2024, a new filing posted on Companies House shows.
TRG: Profits soar as Wagamama owner defies drab outlook for casual dining market September 6, 2023 TRG, which owns a slew of casual dining chains and pubs, its most popular being Japanese inspired eatery Wagamama, reported a 10 per cent rise in total revenue during the term to £467.4m.
Barratt Developments: Housebuilder blames mortgage misery for plummeting profits September 6, 2023 The number of homes the company built also declined 3.9 per cent during the term to 17,206, as a series of interest rate hikes by the Bank of England made buyers cautious.
Wilko: Store confirms over 1,000 job cuts – but talks with HMV owner continue September 5, 2023 Wilko’s administrators confirmed today that it will cut 1,300 jobs and close 52 stores.
Asda chairman says supermarkets owed ‘debt of gratitude’ as he snubs profiteering claims September 5, 2023 Asda’s chairman said supermarkets are owed a “great debt of gratitude” as he rebuffed claims that the grocer is profiteering from rising petrol and food prices amid the cost of living crisis. Speaking to LBC, Stuart Rose said that all retailers have seen their profits over the last year go “backwards”. “If you look at [...]
N Brown: Online retailers will ‘kick on’ again in new year following cost of living lull September 5, 2023 N Brown chief executive Steve Johnson said he expects online retailers to “kick on” again in the new year, following a lull period driven partly by customers returning to physical stores in order to shop around amid the cost of living crisis. Speaking to City A.M., Johnson, who heads up the business behind popular online [...]
Wetherspoon boss Tim Martin slashes prices in tax battle with supermarkets September 4, 2023 Tim Martin has warned that the biggest threat to the hospitality industry is the “vast disparity” in tax treatment
Manufacturing downturn ‘deepens’ as production drop among fastest on record September 1, 2023 UK manufacturing hit a steep slump this month, figures revealed, as production dropped by a rate “one of the fastest in survey history”. According to the Chartered Institute of Procurement & Supply (CIPS) the UK manufacturing purchasing managers index (PMI) recorded 43.0 in August, down from 45.3 in July. This marked its lowest level since [...]
The Works: Discounter fails to benefit from cost of living crisis as profit slides August 30, 2023 The retailer The Works, which speciailses in knockdown prices, has failed to turn the cost of living crisis to its advantage