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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Watches of Switzerland: The worst is over for the luxury watch market

September 3, 2024

Watches of Switzerland has said the worst is over for the luxury market in the UK as it reported steadying demand for high-end watches from its stores. In a trading update this morning, the retailer said it was trading in line with expectations and “on track” to meet 2025 guidance. Its shares rose by more [...]
‘Little luxuries’ and warm weather boost card spending

September 3, 2024

The summer heatwave, along with the ‘sweet treat economy’ pushed card spending to return to growth in August, although it remained below consumer inflation. Card spending grew by one per cent in August, below the CPIH inflation rate of 3.1 per cent. Almost half of consumers said they continued to spend on small, luxury purchases [...]
UK retail sales ticked up in August in a summertime boost

September 3, 2024

UK retail sales ticked up in August, according to fresh data, after consumer confidence was boosted by good weather.
Private equity groups circle UK pharmacy wholesaler

September 2, 2024

HIG and Capvest have joined a line of private equity groups looking to buy the largest supplier of goods to British pharmacies, AAH Pharmaceuticals, from German private equity firm Aurelius. AAH has been put up for sale again only a few years after being bought by Aurelius in 2022, according to the Financial Times. The [...]
Citypoint tower up for sale as owner seeks cut-price deal

September 2, 2024

Canadian asset manager Brookfield has put Citypoint tower up for sale in what could be the biggest commercial office sale in the capital all year. Brookfield has reportedly started the sale in the hope of avoiding a default on a £460m loan secured on the building, according to the FT, which it previously extended in [...]
London gets even worse for first-time buyers as UK cities ranked

September 2, 2024

London has become an even worse city for first-time buyers, according to new figures, but the situation has now stopped people flocking to the capital for the social and career opportunities. The capital has moved down one place to 44th out of 50 in the latest ranking from mortgage provider Aldermore. The study compared cities [...]
Kurt Geiger boss joins list of retailers slamming the end of tax-free shopping

September 2, 2024

Kurt Geiger’s boss has said the UK is shooting itself in the foot by not bringing back tax-free shopping for international visitors. Kurt Geiger’s chief executive, Neil Clifford, told The Times that the end of VAT-free shopping has had a “massively negative effect” on Britain”. “International tourists, whether it be Middle Eastern or American travellers, [...]
Axe-throwing bar chain toasts growth as Brits look for competitive night out

September 2, 2024

Novelty bar operator XP Factory topped market expectations today after a boost in Brits looking for competitive nights out with activities like axe throwing and mini golf. Group revenue more than doubled in the 15 months ended 31 March 2024, to £57.3m from £22.8m. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose to [...]
The Gen Z shoppers driving luxury reselling online

August 30, 2024

Secondhand luxury goods have boomed online over the last few years, going from a corner of the internet to a $50bn sector last year, covering just over 10 per cent of the total luxury market. Most of the growth in the resale market has been driven by gen Z shoppers looking for unique, economical and [...]
Mortgage borrowing hits highest level in nearly two years

August 30, 2024

The amount of mortgage debt Brits took on in July reached its highest level since November 2022 in another sign that consumer confidence is returning. Brits borrowed £2.8bn of mortgage debt in July, the highest since £.2bn in November 2022 and up from £2.6bn in June, according to the latest Money and Credit data from [...]

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By: Amber Murray

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