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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Out of juice? Tropicana warns high fruit prices will affect profit

September 29, 2024

Drinks giant Tropicana has warned its lenders that profit will come in below its forecasts this year, according to reports. Tropicana told lenders this month that it expected to achieve an underlying profit of £241m in 2024, flat year on year and below the £280m it had previously forecast, according to The Sunday Times. The [...]
Next boss Lord Wolfson sells £29m of stock in the high street bellwether

September 29, 2024

Next’s chief executive has sold £29m worth of shares in the FTSE 100 fashion and homeware store. Lord Wolfson of Aspley Guise sold around 290,000 shares, leaving him with 950,000 shares worth £100m, Next told markets on Friday. News of the sale sent Next’s share price down 3.5 per cent, although it’s risen by 21.24 [...]
East Sussex teenager wins prestigious Le Cordon Bleu culinary prize

September 26, 2024

Caoimhe O’Neill-McGuinness, an 18-year-old from Eastbourne, has won a top culinary prize from Le Cordon Bleu worth £60,000. The competition, which is designed to identify and nurture the next generation of culinary talent, was one of the most competitive in recent years, with all finalists “demonstrating remarkable talent and creativity”, Le Cordon Bleu said. O’Neill-Mcguinness [...]
Harrods boss admits after Mohamed Al Fayed allegations: ‘We failed our colleagues’

September 26, 2024

The current managing director of Harrods has apologised and said the business “failed our colleagues” following sexual misconduct allegations about former owner Mohamed Al Fayed. Michael Ward said in a statement that it is clear Mr Al Fayed “presided over a toxic culture of secrecy, intimidation, fear of repercussion and sexual misconduct”. Mr Ward, who [...]
Prezzo poaches Brewdog’s James Brown to lead the recovering restaurant chain

September 26, 2024

Prezzo has appointed Brewdog’s James Brown as chief executive of the restaurant chain in the latest part of its ambitious post-collapse turnaround plan. Brown served as chief of Brewdog Bars and helped the brand grow from 18 sites to 135 globally. He has held several senior leadership roles at the company since 2015. The bar [...]
CVS: Vet probe weighs on profit but fundamentals ‘strong’

September 26, 2024

Veterinary group CVS has said that a competition probe into the vet sector, plus cost of living pressures and a cyber attack, negatively affected its performance over the last year. The Competition and Markets Authority (CMA) launched a formal probe into the sector in May. CVS shares plunged 20 per cent after the announcement, and [...]
Mitchells & Butlers: Sales at Toby Carvery and All Bar One operator outperform

September 26, 2024

Restaurant, pub, and bar operator Mitchells & Butlers, which owns the Toby Carvery and All Bar One brands, has reported rising sales in a slowly recovering industry. Like-for-like sales at the no-frills pub chain grew by 5.2 per cent during the 51 weeks to 21 September, driven by growth of 7.7 per cent in the [...]
Diageo boss reassures concerned investors ahead of annual meeting

September 26, 2024

Diageo chief executive Debra Crew has reassured investors that the company’s fundamentals remain strong despite market headwinds and a sinking share price. The company’s share price has fallen by nearly 19 per cent in the last year and just over one per cent in the last month. Crew said that consumers continue to be “cautious” [...]
‘Turbulent few months’ ahead for retailers as low consumer confidence lingers

September 26, 2024

One of the UK’s largest retail bodies has warned that retailers could suffer in the next few months during the run-up to Christmas, due to a lack of consumer confidence in the economy. Confidence slumped in September, with an increasing number of Brits saying they expected the UK economy to get worse over the next [...]
Banned Nike and Sky ads are a ‘warning to retailers’ from the ASA

September 25, 2024

The UK’s advertising watchdog has banned ads from Nike and Sky on the grounds that they’re misleading in another sign that the agency has its eyes firmly peeled on the way retailers approach customers online. The ads, the Advertising Standards Agency (ASA) suggested, were designed to lure consumers in and unintentionally spend money. Commercial lawyer [...]

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What’s on in London in May

By: Amber Murray

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