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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Who is Asda’s chair and why does he want Mohsin Issa to step away?

August 12, 2024

Depending on your age and your attention span towards the in and outs of the UK retail scene, you may or may not have heard of Lord Stuart Rose. Knighted in 2008 for his services to the retail industry, he has spent twenty years running some of the biggest names in UK retail: Argos, Marks [...]
JD Sports shares slump after stockbroker downgrade

August 12, 2024

Shares in JD Sports slumped more than four per cent on Monday morning after analysts at stockbroker Deutsche Numis questioned the retailer’s ability to generate cash. Analysts downgraded the stock from a ‘buy’ to a ‘sell’ and lowered the share price target from 115p to 110p. Deutchse’s forecast was 6.5 per cent below the fashion [...]
Burger King UK’s revenue spikes after restaurants revamped and new sites opened

August 12, 2024

Burger King has reported a rise in sales and revenue in 2023 after a boost from new restaurant openings. Revenue spiked by a huge 30 per cent, although like-for-like sales only rose by three percent. The rise in revenue was due to growth in the “existing estate and new restaurants”, as well as “good cost [...]
Samarkand: E-commerce firm shifts focus to UK amid China struggles

August 12, 2024

E-commerce group Samarkand, which focuses on connecting Western brands with Chinese customers, has struggled to weather Beijing’s slowdown and said it will change its primary focus to the UK. Revenue at the group decreased by three per cent to £16.9m in the year ended March 31, down from £17.5m in 2023. Adjusted earnings before interest, [...]
Sainsbury’s: Business rates ‘nothing more than an unfair tax on shops’

August 12, 2024

Sainsbury’s has urged the government to cut business rates and warned that failure to act could lead to over 17,000 shop closures over the next decade. It has called for a rate cut of 20 per cent in a bid to revitalise the high street and protect jobs. Not only would this project jobs, the [...]
Marshalls: Revenue at building supplier drops but group ‘cautiously optimistic’ about the future

August 12, 2024

Housing industry supplier Marshalls has reported a mixed set of results for the first half of the year due to what management called “weak end markets.” However, despite weakness in the construction market over the past year, the company said it was “cautiously optimistic” about the future. Marshalls announced revenue of £306.7m in the half-year [...]
‘Pent-up demand’ drives jump in London prime property sales

August 12, 2024

London’s super-prime market seems to following a similar track to the general market: optimism is cautiously increasing as mortgages start to come down following the Bank of England’s rate cut. The number of exchanges in London in June and July was 8.4 per cent above the five-year average, according to Knight Frank. It was a [...]
Has the UK housing market turned a corner as the Bank of England cut interest rates?

August 9, 2024

Quiet optimism is the mood of the day in the housing market, as house prices firmly ticked up in July. Both the Nationwide and Halifax house price indices posted accelerating house price growth. Nationwide reported a 0.3 per cent month on month increase and Halifax pointed to a stronger 0.8 per cent month on month [...]
Inside Asda’s turnaround plan to win back customers from supermarket rivals

August 9, 2024

It’s a difficult time to be at Asda’s helm – with sales down as well as competitors eating into its market share, the supermarket giant has announced an ambitious three-point turnaround plan to stave off further declines. Without a permanent CEO – the position has been empty since 2021 and filled on an interim basis [...]
Electric Guitar: Digital marketer buys data analytics firm set up by its chief

August 9, 2024

Digital marketing and advertising company Electric Guitar will acquire software solutions provider Mymyne, previously set up by its chief executive. Mymyne was set up in 2019 by Electric Guitar’s chief executive, John Regan, to develop and commercialise data-related software services, with swoop is being viewed as a sign that the marketing world is moving towards [...]

FTSE 100 Live: Economy flat; Stocks to dip as oil fears continue

Man City Puma kit deal helps UK sponsorship market hit £5bn

Spirit of Speyside Whisky Festival to drive millions into Scotch sector

By: Amber Murray

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