Poundland to open 25 UK stores this year as low-price giant exploits Brits’ hunger for cheaper products August 3, 2022 Poundland said this morning it plans to open and relocate 25 stores across the country in 2022. Ten new branches will be opened by the end of next month and 15 more before the year ends. The low-price retailer said it will primarily focus on high streets, retail parks, and neighbourhoods, with stores expected to [...]
Currys told to ditch price lock by shareholder to increase margins July 31, 2022 Currys has been told to ditch its “price lock” commitment and make goods more expensive by a veteran hedge fund manager amid the cost of living crisis. Crispin Odey, who holds a substantial stake in the firm, said “freezers and washing machines are going to have to be more expensive as they are currently being [...]
Cost of living crisis prompts almost a third of UK workers to take second job July 28, 2022 Nearly third of workers in the UK are seeking to work two jobs to support themselves as the cost of living crisis sends prices of essentials soaring. 32 per cent of workers are aiming to take on a second job in addition to their current job to make more money, a national survey of 2000 [...]
Parsley Box Group expects loss as it invests in new products to help with cost of living crisis July 27, 2022 Meal delivery service Parsley Box Group had a dip in revenue and order numbers, as it invested in new products to attract customers amid the cost of living crisis. The company had a drop in income from the previous year, down to £9.6m from 14m, while its new customer revenue was under £1m, from £3m [...]
UK voters’ concerns on inflation reach highest level in four decades July 26, 2022 UK voter worries on inflation are at their highest since the 1980s as the country faces a severe cost of living crisis and prices of essentials surge. The July 2022 Ipsos Issues Index by research company Ipsos showed that 45 per cent of adults in the UK view inflation as one of the most pressing [...]
Half of all Brits need extra money to get by so millions are scrambling to find additional sources of income July 24, 2022 As the cost of living crisis continues, over 30m Brits have been forced to seek an additional source of income due to the pinch on their finances. Shockingly, this is a staggering 65 increase in just four months, since February this year, according to new research shared with City A.M. this morning. Younger people are [...]
Jubilee weekend boom fails to lift June’s retail sector July 22, 2022 An uptick in sales of food during the Jubilee weekend was offset by slower sales across the rest of the retail sector to see June retail volumes drop 0.1 per cent compared to previous month. The Jubilee weekend saw food shops sell 3.1 per cent more food last month than they did in May, as [...]
Government and major businesses work together to help households with cost of living July 21, 2022 The government will collaborate with leading businesses to help UK households facing the cost of living crisis, it said today. The Cost of Living Business Tsar and ex-chief of Just Eat David Buttress agreed retail deals and discounts with major businesses in the UK like Asda, Sainsbury’s, Amazon, and Vodafone as part of the Help [...]
Martin Lewis warns government of ‘financial time bomb’ as cost of living crisis worsens July 20, 2022 Martin Lewis warned the government of a “financial time bomb” due to explode in September as the UK’s cost of living crisis intensifies. The founder of MoneySavingExpert.com issued an “open video letter” to the current Conservative Party leadership candidates and warned of even higher energy costs and civil unrest as the UK struggles with record [...]
Virgin Money to give out £1,000 bonuses to help staff deal with cost-of-living crunch July 19, 2022 Virgin Money today told staff it will be giving out £1,000 bonuses to all workers on salaries of less than £50,000 a year to help them deal with the UK’s cost-of-living crisis. In an internal memo seen by City A.M., Virgin Money chief executive David Duffy told staff earning less than £50,000 that they will [...]