Deliveroo: Push into retail and groceries drives growth January 16, 2025 Deliveroo has said its retail and grocery partnerships drove growth in the last quarter of the year despite a still-tough trading environment. Its share price rose nearly five per cent in early trades. The delivery company launched its on-demand grocery service in March 2020, and has since partnered with a range of brands, with companies [...]
Poundland owner Pepco vows to turn around discount retailer as sales fall January 16, 2025 The owner of Poundland has vowed to get the discount retailer back on track after its performance dragged on the wider Pepco Group. In the first quarter of its financial year, the final three months of 2024, Poundland’s sales totalled €563m (£474.5m), down 9.3 per cent year on year on a constant currency basis. That [...]
Dunelm sales tick up but shares drop January 16, 2025 Homewares retailer Dunelm has reported solid trading results which were ahead of the wider retail market for the golden quarter. Investors weren’t convinced, however, and its share price dropped nearly four per cent in early trades. Sales at the Leicester-headquartered business grew 1.6 per cent to £490m in the 13 weeks to December 28 in [...]
Topps Tiles investor stages revolt as shares nose dive January 15, 2025 A major investor in Topps Tiles has staged a revolt against the retailer as its share price continues to nose dive towards a new historic low. Private equity firm MS Galleon used its near 30 per cent stake to vote against the company’s remuneration report at this year’s annual general meeting, resulting in 40 per [...]
Kurt Geiger: Record holiday trading as US expansion pays off January 15, 2025 Growth at Kurt Geiger outpaced expectations last year driven by American demand for the luxury footwear and accessories brand. Despite general gloom in the retail sector, December 2024 was the most profitable month in the brand’s history, with its 17 per cent growth credited to a 54 per cent rise in handbag sales and its [...]
Asos to close US distribution centre with customers served from Barnsley instead January 15, 2025 Online fashion retailer Asos will close its distribution centre in Georgia, USA, in another effort to boost profitability and streamline operations. From late this year, US customers will be served from Asos’ automated UK fulfilment centre in Barnsley, and through a “smaller, more flexible local US site”, the company said. The Atlanta warehouse will be [...]
Demand for AI tech boosts Currys January 15, 2025 Electrical retailer Currys has reinstated its dividend after a jump in sales related to AI tech helped boost the firm’s top and bottom lines. In a trading update issued this morning, the FTSE 100 firm said it expected to record a profit for its 2024/25 financial year of £145m to £155m, up 23 per cent to [...]
Most retailers will hike prices in response to Reeves’ NI Budget raid January 15, 2025 Two thirds of CFOs have said their business will be forced to raise prices as a result of higher wage bills, according to a new survey. Around 70 per cent of respondents to the survey, which looked at the attitudes of CFOs at 52 retailers, were “pessimistic” or “very pessimistic” about trading conditions over the [...]
UCL expands footprint in One Canada Square January 14, 2025 UCL School of Management has announced it will expand its facilities at Canary Wharf as the financial services hub continues to diversify its offering. The UCL school at One Canada Square, which offers undergraduate, postgraduate, executive and PhD programmes, will occupy two additional floors on levels 48 and 49 for staff, teaching and learning spaces. [...]
Fortnum & Mason to ‘limit price rises’ as it battles surging costs January 14, 2025 Iconic London store Fortnum & Mason has vowed to limit increasing prices in the wake of tax rises by the Labour government. The retailer, which can trace its roots back to 1707, has said the outlook for its operating costs in 2025 “remains challenging”. The company pointed to inflation, labour costs, tax increases, raw materials, [...]