Co-op breach a ‘stark reminder of why cash remains essential’ May 8, 2025 The disruption to card payments at Co-op stores last week is a warning to Brits on over reliance on digital payments, according to a leading consultancy firm. The Co-op shut down parts of its IT systems last week and suspended contactless payments at nearly 10 per cent of stores after detecting a potential breach. “The [...]
Asos: Losses narrow as e-commerce giant drives turnaround April 24, 2025 Struggling ecommerce giant Asos has reported reduced losses as its turnaround plan begins to take shape. Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) moved into positive territory at £42.5m in the 26 weeks to March 2, from a loss of £16.3m last year. Its share price dipped by nearly two per cent in [...]
City broker upgrades Boohoo shares to ‘Hold’ April 23, 2025 City broker Shore Capital has upgraded fast-fashion retailer Boohoo, now trading as Debenhams, from a ‘Sell’ to a ‘Hold’ in light of its falling share price. Boohoo’s share price has dropped by more than a third since last November, after a series of poor trading updates and a public spat with Mike Ashley. Shore Capital [...]
Tourist tax: Lisa Nandy says Labour may ‘explore’ restoring VAT free shopping April 16, 2025 Lisa Nandy has said the government “could explore” restoring VAT free shopping after hearing “very loud and clear” the calls from the industry to scrap the so-called tourist tax. The culture, media and sport secretary told Elle UK magazine that fashion was in the “soul of the nation” and ministers recognised its “centrality” to the [...]
B&M: Poor UK sales weigh on earnings for bargain retailer April 15, 2025 Discount retailer B&M expects full-year earnings to fall year on year as poor UK sales weigh on overall company performance. However, the company told markets this morning that it expects to report earnings before interest, tax, depreciation and amortisation (EBITDA) above the midpoint of its £605m-£625m guidance range. The firm lowered its expected full-year EBITDA [...]
Retail sales rise in March but tariff turmoil signals trouble ahead April 15, 2025 Retail sales rose in March despite low consumer confidence, according to new data, but tariff uncertainty is likely to dampen the recovery. Total retail sales increased by 1.1 per cent year on year in March, with 1.6 per cent growth in food sales and 0.6 per cent growth in non-food sales. While this was below [...]
Retail bosses warn of dumping from Chinese firms into Europe April 14, 2025 UK retail bosses have warned that Trump’s tariffs will cause low-quality goods to be dumped into Europe from China via distributor sites like Amazon. Unable to sell competitively in the US due to US President Donald Trump’s 104 per cent tariffs on goods from China, as well as his decision to end the de minimis [...]
Bond Street dethrones Milan with Europe’s most expensive retail rent April 10, 2025 London’s Bond Street has been crowned Europe’s most expensive street to rent, stealing the top spot from Milan. In 2024, Bond Street reported a 20 per cent uplift in prime headline rents, taking its benchmark prime rent to €15,333 (£13,162) per sqm. It has overtaken Milan’s Via Monte Napoleone (£12,872 per sq m), which held [...]
FTSE 100 retail giant Next passes £1bn profit milestone for the first time March 27, 2025 Next has joined a small group of UK retail companies in reporting more than £1bn in annual profit. The high street bellwether told markets this morning that its profit before tax for the year to January 2025 was £1.01bn, up 10.1 per cent year on year. Its share price rose more than eight per cent [...]
Retail sales plummet as trade fears and taxes weigh on confidence March 25, 2025 Retail sales dropped in March and are expected to fall further as low confidence worsens a decade-long decline in retail. Sales volumes in the UK dropped “markedly” in the year to March, according to the CBI’s latest trading survey. It was the sharpest drop since last July and marks the sixth consecutive months of decline, [...]