Poundland on course for £18m profit despite owner pushing for collapse Exclusive Poundland is on course for an £18m profit despite its owner pushing for a sale and claiming that the retailer remains “challenged and vulnerable”, City AM can reveal. The retailer’s unaudited profit for the year to September stands at £18m, sources close to the company said. Following the audit, this figure is projected to rise [...]
Asos returns to profit as cyber attack fallout ‘not a big thing’ Retail Asos has returned to profit after the cyber attack that rocked the fast-fashion seller last month, as its boss insisted the impact of the incident was “not a big thing”. The London-listed retailer said its decision to pause some marketing and customer-related activity in the aftermath of the incident resulted in a “short-term disruption” to [...]
Traffic-free Oxford Street delivers boost for retailers Retail Retailers on London’s Oxford Street have seen their sales jump by nearly a fifth since the iconic shopping street was pedestrianised last month. The number of transactions at 40 Oxford Street stores jumped by 19 per cent in the first week of the scheme, compared both to the prior week and the same time last [...]
Burnham urges Poundland owner to work with government to save jobs November 4, 2026 Andy Burnham has said Poundland’s owners must work with the government on a “practical solution” to secure the future of its workers and shops. The Prime Minister criticised Gordon Brothers, the US investment firm which owns the retailer, for failing to engage with the “viable propositions” which have been tabled by a number of bidders. [...]
Marks & Spencer boss accuses Labour of ‘biggest tax grab in history’ November 4, 2026 Marks & Spencer boss Stuart Machin has accused the government of mounting “one of the biggest tax grabs in history” in a scathing attack on Labour’s efforts to boost economic growth. The retail boss told reporters that the three Budgets since Labour came to power have resulted in about £73bn in extra taxes, claiming the [...]
Marks & Spencer boosted by food growth while fashion lags behind November 4, 2026 Marks & Spencer said its food arm is driving the retailer’s return to growth, while issues with stock and “trendy” designs slowed the comeback of its fashion business. The FTSE 100 retailer posted a £355m pre-tax profit in the six months to the end of September, up from £3m last year when a cyber attack [...]
Asda’s turnaround king names heir to the throne November 3, 2026 Allan Leighton was adamant. Just two months ago, Asda’s then-executive chairman insisted that his position as the sole leader of the discount grocer’s turnaround plans would not change any time soon. It had been rumoured that Asda was on the lookout for a chief executive to bolster its efforts to return to its heyday, but [...]
Poundland owner ‘not acting in best interests’ of workers, says No10 November 3, 2026 Poundland owner Gordon Brothers is “not acting in the best interests” of the discount retailer’s staff and stores as it hurtles towards collapse, Downing Street has said. The Boston-based investment firm, which has faced intense criticism over its attempted sale of Poundland, must explain why it has rejected solvent offers to rescue the troubled retailer [...]
Hugo Boss outlook worsens after Mike Ashley’s Frasers takes control November 3, 2026 Hugo Boss has cut its outlook for sales and profit in the face of weakening consumer demand, just days after Mike Ashley’s Frasers Group took control of the German fashion house. The luxury retailer had been expecting its performance to take a hit from its turnaround plan but told shareholders this has been worsened by [...]
Primark sales slip ahead of ABF exit in ‘challenging’ backdrop November 3, 2026 Primark has seen its sales slip as its owner, Associated British Foods, races to shape up the fast-fashion retailer ahead of its exit from the group next year. Like-for-like sales at the retailer slipped by 2.6 per cent in the year to September, dragged down by “weak” consumer confidence and less advanced turnaround efforts in [...]