By: Amber Murray

Retail Reporter Amber Murray is a reporter at City A.M., covering retail, luxury and property stores. Prior to City A.M., she worked as a sub-editor for Fastmarkets and completed a Masters in Financial Journalism at City University. Please get in touch with stories/tips/coffees at amber.murray@cityam.com

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John Lewis boss to step back from role after two years

October 7, 2024

John Lewis Partnership chief executive Nish Kankiwala will step back from his role in spring next year, with freshly-inaugurated chair Jason Terry to take a larger role in the day-to-day running of the firm. The retailer, which runs both the John Lewis retail chain and the Waitrose grocery arm, said that Kankiwala will revert to [...]
Assura boss: UK at ‘turning point’ in healthcare as more Brits snub NHS and go private

October 7, 2024

Healthcare property giant Assura has called for investment in the sector and said that the UK is a turning point in its delivery of healthcare alongside its half-year results. Chief executive Jonathan Murphy said that the need for investment in healthcare was “starkly outlined” by the recent Lord Darzi report, which found the current primary [...]
UK house prices rise for third straight month ahead of Budget

October 7, 2024

House prices rose for the third consecutive month in September, taking the average price of a property to the highest level in more than two years. House prices increased by 0.3 per cent month on month in September, and 4.7 per cent year on year. The average property now costs £293,399 – compared to £292,540 [...]
Grainger: Higher rents and acquisitions support double-digit growth

October 7, 2024

Residential property giant Grainger has reported double digit rental income growth due to high demand in the rental market and continued price increases. Rental growth for the year was 6.3 per cent, down from 7.7 per cent in 2023. The property giant noted that rents had been supported by a tight housing market, with “rapidly [...]
Luxury retail might be struggling globally, but it’s thriving in London

October 4, 2024

It’s somewhat surprisingly that luxury retail in London is doing so well, particularly given eye-catching figures about a wider downturn in the luxury market, the effect of the tourist tax, and the potential exodus of high-net-worth non doms from the capital. But while these “handicaps” – particularly the tourist tax – have hampered demand somewhat, [...]
Online discounting gives retail a boost but puts margins under pressure

October 4, 2024

Widespread retail discounting boosted online sales growth in September, but has continued to squeeze their already-tight profit margins, according to fresh data. Total retail sales grew by 4.7 per cent compared to September last year and online sales were up by 11.6 per cent, accountancy and business advisory firm BDO’s high street sales tracker found. However, [...]
Not ‘much to be optimistic about’ in London rental market

October 3, 2024

Pressure on the rental market continues to build this autumn despite a cooling market earlier in spring, with more landlords selling up and more tenants looking for short-term homes, according to fresh data. More than three-quarters of agents have seen an increase in the number of tenants searching for properties, while more than half of [...]
Telecom Plus: Utility Warehouse provider continues growth streak

October 3, 2024

Multi-service utility, internet and insurance firm Telecom Plus has reported a third consecutive year of double-digit growth. The FTSE 250 listed company, which provides energy, broadband, mobile and insurance services through one account, said that just over 1m households were now taking their essential home services from the firm. Telecoms Plus said that its customer [...]
SSP Group: Upper Crust owner reports ‘significant increase’ in profitability

October 3, 2024

The travel food specialist behind Upper Crust SSP Group has reported a boost in revenue, with UK sales supported by demand for air travel and easing rail disruptions. Revenue grew by 17 per cent for the year to 30 September, with full-year operating profit expected to be £210 to £220m, up around 30 per cent [...]
Tesco ups guidance after first-half performance ‘exceeds expectations’

October 3, 2024

Supermarket giant Tesco has upped its profit guidance following another strong period of trading for the UK’s biggest grocer. Tesco increased its retail adjusted operating profit guidance to £2.9bn, from £2.8bn, after it “delivered volume growth ahead of expectations”. Continuing sales at the grocer grew 3.5 per cent in the 26 weeks ended 24 August [...]

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By: Amber Murray

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