Asos shares crater after ‘hackers’ threaten data leak Retail Asos shares have tumbled after customers were told the online fashion seller’s systems had been “fully compromised” by hackers. Users of the Asos app received a push notification on Tuesday morning titled “ASOS HACKED”, in an apparent attempt by the attackers to contact the company’s data protection and IT teams. Asos said on Tuesday afternoon [...]
Retail sales plummet as Iran war hits consumer confidence Retail Retail sales plummeted by 1.3 per cent in April, as Brits cut back on spending amid increasing pressure from the war in Iran. The huge fall in retail sales volumes in April was the largest since May last year and defied economists’ forecasts of a softer drop. This comes after a 0.6 per cent rise in [...]
British shoppers turn to AI as London high street sales falter As our beloved high streets grapple with rising business costs, decaying consumer confidence and yet another bout of tax uncertainty, AI agents are reshaping how consumers shop. A report published by the Information Commissioner’s Office (ICO) warns that that so-called ‘agentic AI’, a quasi-autonomous form of artificial intelligence, could shift from novelty to norm within [...]
Zara turns to AI-edited models amid shop closures December 18, 2025 Zara is using artificial intelligence to edit images of human models for its e-commerce platforms, City AM understands, as the fast-fashion giant looks to cut costs amid a tough retail backdrop. Models who have previously shot campaigns for Zara have since been contacted by the Spanish retail giant and asked for permission for their images [...]
JD Sports-owned Go Outdoors returns to profit but cuts more jobs October 27, 2025 Go Outdoors, the retailer owned by FTSE 100 giant JD Sports, returned to profit as it cut more jobs in the wake of Chancellor Rachel Reeves’ tax hikes, it has been revealed. The business said it has reduced its headcount as it “faced significant cost headwinds” including the increase in the National Living Wage, a [...]
Greencore: Strawberry sandwich maker’s shares rise amid M&S cyber fallout October 8, 2025 Shares in Greencore, one of the UK’s major convenience food manufacturers, have risen six per cent following Wednesday’s trading update which highlighted another strong quarter and a robust full-year performance. The FTSE 250-listed group, which supplies sandwiches, rolls and wraps – and notably, the viral Japanese sando-inspired strawberry and cream sandwich – to Marks & [...]
Temu: UK sales and profit double as Shein court battle looms September 17, 2025 Sales and profit at the UK arm of Chinese online marketplace Temu almost doubled during its latest financial year, it has been revealed. For 2024, the division achieved a revenue of $63.2m (£46.3m), up from the $32.1m it achieved in 2023. New accounts filed with Companies House also show its pre-tax profit jumped from $2m [...]
‘It’s not a fair fight’: HMV boss issues Rachel Reeves Autumn Budget tax demand September 8, 2025 Chancellor Rachel Reeves has been urged to reform business rates in the Autumn Budget by the boss of HMV. Phil Halliday, in an up-coming episode of City AM‘s Boardroom Uncovered show, said the current system should be altered to make it fairer for UK retailers. The managing director added that businesses such as HMV are [...]
New Look owners line up Rothschild as high street chain prepares for possible sale August 24, 2025 The owners of New Look have appointed Rothschild to oversee a strategic review that could see the high street fashion chain change hands next year. Alcentra and Brait, which have controlled the retailer since 2020, tapped the investment bank after receiving unsolicited approaches from potential buyers, Sky News reported. No timeline has been set for [...]
Business rates are a relic of a bygone era. Reform them to save the high street August 22, 2025 Business rates are sinking Britain’s high streets - inaction is no longer an option for the Chancellor, writes Shevaun Haviland.