Mike Ashley’s Frasers makes £1.7bn takeover offer for Hugo Boss June 10, 2026 Mike Ashley’s Frasers Group has moved to tighten its grip on German fashion giant Hugo Boss, tabling a takeover offer in a deal that values the brand at nearly €2bn. The retail empire, which spans Sports Direct and Flannels, already sits as Hugo Boss’s largest investor with a stake north of 25 per cent, and [...]
More than 80 retail bosses urge Starmer to tackle youth unemployment crisis June 10, 2026 More than 80 retail bosses have called on the Prime Minister to set out urgent measures to tackle youth unemployment, warning that the “ladder of opportunity for young people is wobbling”. The chiefs of leading retailers including Tesco, Sainsbury’s and John Lewis have called on Sir Keir Starmer to safeguard the position of retail as [...]
WH Smith shares crater after outlook slashed on Iran war travel chaos June 10, 2026 WH Smith shares have cratered after the retailer slashed its profit forecast amid the prolonged slowdown in global travel and slump in consumer confidence caused by the Iran war. Shares in the FTSE 250 retailer slumped by 16 per cent on Wednesday’s market open to 415p, leaving the stock down more than 35 per cent [...]
As it happened: FTSE 100 see-saws amid global jitters as market outlook turns ‘risky and dangerous’ June 10, 2026 Good morning and welcome back to the City AM liveblog. Markets were not getting too excited at the beginning of this week when Donald Trump said a peace deal with Iran was “very close”. And last night’s exchange of strikes might explain why. The US has said it completed a series of strikes against Iran [...]
Pret A Manger dumps US franchise agreement after just two years June 9, 2026 Pret A Manger has dumped the franchise agreement which it had launched to expand in the US after just two years, its latest accounts revealed. The coffee chain formed a joint venture, known as Empire JointStar, with its franchise operator Dallas Holdings in October 2023, in a bid to accelerate its expansion in the US. [...]
Regulator opens probe into PwC over WH Smith audit debacle June 9, 2026 The Financial Reporting Council (FRC) has launched an investigation into PwC over its audit of WH Smith that resulted in delayed annual results last year. Last August, WH Smith shares plummeted by up to 40 per cent after it admitted to an accounting error that overstated expected headline trading profit in its North American business [...]
Heatwave boost for retailers as Brits snapped up BBQs and fans June 9, 2026 The late-May heatwave offered a much-needed boost for retailers as the hot weather prompted red-hot spending on barbecues, fans and sandals. Retail sales in the UK jumped by 3.7 per cent year on year in May, soaring above the full-year average of two per cent, according to the British Retail Consortium (BRC). Many Brits opted [...]
James Watt: I want to buy back Brewdog June 8, 2026 Brewdog founder James Watt has revealed he wants to buy back the craft beer firm he quit years ago, as he hit out at those who blame him for its collapse. Watt recently launched a comeback designed to win over the “equity punks” who piled millions into his initial venture but saw no returns from [...]
Debenhams and Revolution unveil new beauty collaboration June 8, 2026 Fast-fashion retailer Debenhams has formalised a royalty-based licensing partnership with Revolution Beauty to develop and distribute beauty and fragrance products across Debenhams’ brand portfolio. The first collections are expected to launch ahead of Christmas, featuring fragrance and gifting lines for PrettyLittleThing, Karen Millen, and boohooMAN. While further beauty and fragrance launches are planned across a [...]
Food inflation: First signs of energy cost surge feed through to supermarket shelves as discounts fail to stem price growth June 8, 2026 Supermarket food inflation has risen significantly for the first time this year, a City AM analysis has found, flashing an early warning sign that the surge in energy and freight costs triggered by war in Iran is reaching shelf prices in the UK. City AM reporters gather data on around 200 prices of products across [...]