H&T: Pawnbroker to expand high street and online presence as profits soar 31 per cent August 8, 2023 H&T, Britain’s largest pawnbroker reported a 31 per cent rise in profit before tax to £8.8m – with the pawnbroker looking to cash in on desperate times by expanding its presence. Its pledge book, which includes short-term loans linked to customers’ belongings, grew 14 per cent in the six months ending 30 June, reaching £114.6m [...]
Retail investors poised to spend near £100m on Oxford Street this year August 7, 2023 Retail investment in central London is expected to exceed £1bn this year, with up to a tenth of that set to be spent on Oxford Street, raising fresh hope for the future of the London shopping destination. Some £810m was splurged on retail investments across London in the first half of the year, new figures [...]
None for the road: Takeaway pints banned as Home Office ends pub pandemic scheme August 7, 2023 Bad news for punters who enjoy a cold pint on the go as the government has decided to put an end to the Covid-19 scheme which allowed pubs to sell takeaway pints. Pubs were allowed to sell alcoholic drinks in plastic cups to customers on the street in 2020, when businesses could not trade normally [...]
Going out on top: Irn Bru boss to step down after two decades as revenues set to rise August 1, 2023 The chief of Irn Bru maker AG Barr will step down after nearly two decades at the Scottish soft drinks giant. Boss Roger White has plans to exit the firm within the next 12 months, when he and the rest of the board agree on a date. A plan to appoint a successor is underway. [...]
Alcohol duty rise is ‘biggest shake up’ in decades as booze to be taxed by strength August 1, 2023 The price of beer and wine will increase today as part of plans previously set out in the Spring Budget. Chancellor Jeremy Hunt announced the measures as part of the budget back in March, which saw an end to the blanket alcohol duty freeze which was put in place via the Autumn Budget 2020 during [...]
Gen Z and millennials shrug off inflation woes to buy ethical goods July 31, 2023 Gen Z and millennial shoppers are shrugging off inflationary woes and continuing to prioritise a retailer’s reputation when choosing where to spend. Some 33 per cent of 18-34-year-olds said they are more loyal to brands with a ‘positive corporate reputation’ and ‘values’ that align with their own, compared to just one in seven shoppers aged [...]
Tortilla boss remains ‘quietly confident’ despite investment and Brexit challenges July 31, 2023 The boss of fast-food Mexican chain Tortilla, Richard Morris, has said that soaring costs and a tumultuous two years for restaurants has led the sector to be hit “quite badly” from a lack of investment. Tortilla, which serves lunchtime burritos and salads, floated in 2021 on London’s junior AIM market, as part of a five [...]
Retailers in trouble as 51 per cent of punters cut back on clothes shopping July 31, 2023 Retail and hospitality industries continue to be bruised by the UK’s cost of living crisis as 59 per cent of people have cut their spending on eating out and a further 51 per cent have cut spending on clothing. As Brits continue to watch their pennies amid high inflation, figures from Oxera show that in [...]
UK lost 6,000 store fronts due to covid and ‘crippling’ business rates July 28, 2023 Britain has lost 6,000 storefronts in five years amid Covid and cost-of-living pressures and “crippling” business rates, according to figures. The overall vacancy rate increased to 13.9 per cent across Britain in the second quarter of this year, a 0.1 percentage point drop on the first quarter but 0.1 points up on the same period [...]
Don’t ‘clobber’ Londoners with ULEZ, Rachel Reeves says July 27, 2023 Now is not the right time to “clobber” Londoners with the ULEZ charge, Labour shadow chancellor Rachel Reeves has said. The shadow chancellor has weighed in on the ultra low emission zone (ULEZ) expansion row engulfing City Hall and Labour politics in the wake of the Uxbridge by-election defeat. She told the Sun she was [...]