Retailers ramp up pressure on Reeves to scrap tax break for e-commerce rivals May 27, 2026 Retailers have urged Rachel Reeves to “revitalise the high street” by speeding up plans to close a tax break which they say unfairly favours Chinese e-commerce rivals. High street giants like Next, M&S and Primark have urged the Chancellor to impose a £2.60 flat fee on small parcels to rebalance a system which they say [...]
Gen Z craze toy maker Jellycat launches legal action against Next and Hamleys May 26, 2026 Jellycat, the British soft toy company that took Gen-Z by storm, has filed several legal actions in the London High Court over trademark allegations. Lawyers at Stephenson Harwood filed three separate lawsuits last week against retail giants over passing off and trademark allegations, as seen by City AM. The firm, founded by Thomas Gatacre in [...]
Next boss slams Labour’s zero-hour contracts crackdown May 26, 2026 The boss of Next has slammed the government’s crackdown on zero-hour contracts and called on Labour to unwind its “employment taxes”. Lord Simon Wolfson, chief executive of the FTSE 100 retailer, said the government’s plans to force employers to offer guaranteed hours to those on flexible contracts will make it “much harder” for Next to [...]
Next faces shareholder pressure over worker pay May 21, 2026 Shareholders in Next are set to put pressure on the retail giant to take action on its “reliance” on low-paid labour. At Next’s annual general meeting on Thursday, a group of investors will call on the retailer to take further action on worker pay and adopt the “real living wage” for all employees. But the [...]
Weather or not to stock – AI aims to shelter UK business from the classic (wet) British summer May 21, 2026 A chilly spring, a sluggish UK economy and hard-pressed household budgets at a time of rising interest rates have combined to put a national talking point – the weather – into the spotlight in the City. Seasonal trends, or the lack of them, can make or break trading at retailers and hospitality companies. Disruption from [...]
Iran war costs Next £47m and may drive up prices May 6, 2026 Retail giant Next has said the ongoing disruption caused by the Iran War has hit it with a £47m increase in costs from climbing energy and transport prices. The FTSE 100 retail and homeware company said that the £27m increase, a sharp rise from it’s previous forecast of £15m, relates mainly to spikes in energy [...]
FTSE 100 Live: Stocks jump; oil dips below $100 as Trump says Iran deal close May 6, 2026 Good morning and welcome back to the City AM liveblog. Brent crude dipped below $100 at Wednesday lunchtime after Donald Trump has hailed “great progress” towards a “final agreement” with Iran, prompting a rally in the FTSE, Asian markets and Wall Street. In a sudden reversal late last night, President Trump said he will pause [...]
Next boss Simon Wolfson takes record £7.4m pay packet April 17, 2026 Next boss Simon Wolfson took home a bumper £7.4m pay packet last year, as his best-ever pay day could be beaten by next year’s £9.3m – if the firm meets growth targets. Wolfson’s total pay soared from £4.9m the year before, as he took £967k in basic pay and more than £6m in bonuses. The [...]
OK computer: will AI be telling you how to shop? April 14, 2026 Hyped as a “seamless” user experience and an opportunity for retailers to access “hundreds of millions” of consumers via ChatGPT, OpenAI walked back from its Instant Checkout shopping function at the end of March, just months before unveiling it. The tool would have allowed users to complete purchases entirely within ChatGPT, but the Silicon Valley [...]
Next unveils huge development in £2.5bn economy boost March 26, 2026 Retail giant Next has unveiled a huge new development which it says will add £2.5bn to the economy, as the FTSE 100 firm invests over £300m in its warehouses. The firm has been granted planning permission to build a new 1.2m sq ft warehouse in its Elmsall complex in Yorkshire, with construction set to commence [...]