WH Smith warns on profit again as discounting hits margins Retail WH Smith has cut its profit target again after warning that intense discounting and “inflation headwinds” are hitting its bottom line. The convenience retailer had initially told investors it could make as much as £105m in pre-tax profit this year, before slashing the target to between £75m and £90m. On Wednesday, the group reduced its [...]
‘Misleading’ Frasers ad banned amid feud with watchdog Retail The advertising watchdog has censured Frasers Group for running a “misleading” ad just days after its finance chief ramped up a bitter row with the regulator. The Advertising Standards Authority (ASA) has banned an online advert published by Sports Direct, which is owned by Frasers, for a Puma sports top which it said misled shoppers [...]
October Budget could be a ‘tipping point,’ Asda boss warns Burnham Retail Andy Burnham’s first Budget in October could be a “tipping point” for British businesses and the economy, the chair of supermarket giant Asda has warned. Allan Leighton, who is attempting to push through a turnaround of the grocer, said it is “too early to tell” whether the government is committed to halting the rise of [...]
Mike Ashley slams Burnham’s ‘populist’ plans to revive high street August 27, 2026 Retail tycoon Mike Ashley has blasted Andy Burnham’s proposals to revive the British high street as “populist” and “too little too late”. The billionaire Sports Direct and Frasers Group founder has written to the Prime Minister accusing him of failing to tackle the cost of living with “delusional” policies. The causes of the UK’s rising [...]
Burnham’s crackdown on ‘price-gouging’ splits supermarkets August 17, 2026 Tesco and Sainsbury’s have stood firm after the boss of Aldi hit out at loyalty discounts, as a “price-gouging” row threatens to divide British supermarkets. Giles Hurley, the chief executive of the discount grocer, has backed the government’s plans to clamp down on retailers which offer “misleading” discounts which do not offer real-terms value. Aldi [...]
Burnham takes on ‘rip-off’ discounts and subscriptions in cost of living push August 10, 2026 Andy Burnham has vowed to outlaw fake discounts and crack down on stealth subscriptions as he pledges to deliver “breathing room” on the cost of living. The Prime Minister has proposed to ban businesses from advertising “rip-off” discounts and said he will accelerate existing plans to make subscriptions easier to cancel. These two pledges come [...]
Poundland sold for just £1 and handed war chest to lead recovery June 12, 2025 Poundland has been sold for just £1 to investment giant Gordon Brothers in a deal which will provide the discount retailer with a £80m war chest to turn around its fortunes. Pepco Group has entered into a definitive agreement with Gordon Brothers to sell Poundland which will continue to be led by chief executive Barry [...]
B&M: FTSE 250 shares plunge as profit and job cuts revealed June 4, 2025 Shares in B&M have plunged by more than ten per cent after the retailer revealed a lower profit, rising debt and job cuts. The Liverpool-headquartered company, which is a member of the FTSE 250 index, reported a pre-tax profit of £431m for the 12 months to 29 March, 2025, down from the £498m it achieved [...]
Online discounting gives retail a boost but puts margins under pressure October 4, 2024 Widespread retail discounting boosted online sales growth in September, but has continued to squeeze their already-tight profit margins, according to fresh data. Total retail sales grew by 4.7 per cent compared to September last year and online sales were up by 11.6 per cent, accountancy and business advisory firm BDO’s high street sales tracker found. However, [...]