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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Burberry’s fall out of the FTSE 100 is about much more than a challenging market

August 30, 2024

Burberry is set to drop out of the FTSE 100 in its quarterly reshuffle, which will be based on market caps as of 2 September. It’s an unfortunate if not surprising turn of events for the UK’s only luxury fashion brand, which has seen its share price drop nearly 75 per cent in the last [...]
Naked Wines boss ‘excited about the future’ as the company goes ‘back to basics’

August 30, 2024

Over the last year, Naked Wines has undergone a painful restructuring process, with measures to reduce costs, stock, and advertising spending in what it called a “pivot to profit.” In December 2023, the company warned that it might not be able to pay its debts if it didn’t manage to make a turnaround work. Now, [...]
Easing inflation helps retail footfall in August despite riots

August 30, 2024

Retail footfall in the UK was boosted by good weather and easing inflation in August, despite the effect of the violent riots which erupted earlier in the month. Total UK retail footfall fell by 0.4 per cent in August year-on-year, compared to an annual drop of 3.3 per cent in July, according to the British Retail Consortium (BRC). It’s [...]
London hotel occupancy rates return to pre-Covid levels but services inflation fears fueled

August 29, 2024

London hotels enjoyed another strong month in July as occupancy rates finally ticked back up to peak occupancy levels seen in summer 2019, but it’s not all rosy for the industry. London occupancy reached 89.3 per cent, up on 84.6 per cent last year and back to peak occupancy levels seen in July 2019. Despite [...]
Outdoor pub smoking ban would cause ‘serious economic harm’ to UK hospitality

August 29, 2024

A possible smoking ban in outdoor spaces of pubs, bars and restaurants in the UK is likely to do more harm than good, leading trade figures have warned. The ban would make it illegal to smoke in pubs, outdoor restaurants and open-air spaces in nightclubs, according to leaked documents seen by The Sun, in a [...]
Tracsis: Revenue dips at transport tech firm after election disruption

August 29, 2024

Transport technology provider Tracsis has reported a dip in revenue caused by the general election, but said that disruptions have now subsided and that it has returned to normal operations. The AIM-listed firm expected revenue of £81m in the year ended 31 July 2024, down by just £1m from 2023. It expected adjusted earnings before [...]
PPHE Hotels: Art’otel owner reports double-digit growth despite project delays

August 29, 2024

Hospitality real estate group PPHE has reported double-digit growth despite delays to multiple hotel projects this year. Like-for-like total revenue growth at the LSE-listed company was up 4.3 per cent to £187.8m in the six months ended 30 June 2024, from £180m in the first half of 2023. The total revenue performance for PPHE’s London [...]
Why London’s wealthiest are shelling out up to £40,000 a month to rent prime property

August 28, 2024

It might seem counter-productive to spend tens-of-thousands of pounds on something you won’t see any return on, but that’s exactly what’s happening in London’s super-prime lettings market at the moment. Properties can range from £5,000 per month to something closer to £40,000, with lettings more often than not arranged off-market. For wealthy families unsure if [...]
Profit more than doubles at Flight Centre thanks to pick-up in business travel

August 28, 2024

A surge in the number of corporate flights taking off helped Flight Centre Travel Group’s pre-tax profit more than double during its latest financial year. The Australian-headquartered group delivered a AU$320m (£164.42m) in underlying profit before tax for 2024, a 131 per cent year-on-year increase and at the mid-point of Flight Centre’s guidance range. The [...]
Victoria Beckham’s beauty brand bucks luxury fashion downturn again

August 28, 2024

Victoria Beckham’s eponymous beauty brand has reported its third consecutive year of double-digit growth, bucking the trend of much of the luxury market. Its positive results came after it clambered out of the red in 2022 for the first time since its inception in 2008, despite a tough industry. Total revenue rose by 52 per [...]

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By: Amber Murray

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