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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Investors shed Kingfisher stocks as trading update a ‘clear disappointment’

November 25, 2024

After a strong run for much of the year, Kingfisher stocks have plummeted more than 13 per cent this morning as investors reacted to an underwhelming sales update. The top end of its previously-guided profit forecast of between £510m and £550m has been shaved to between £510m and £540n. While the estimate “does not represent [...]
B&Q and Screwfix owner Kingfisher: Weak trading in France and £45m tax hit cause shares to plummet

November 25, 2024

Shares in Kingfisher, the parent company of B&Q and Screwfix, have dropped nearly 13 per cent after it tightened profit guidance due to weak trading in France and a higher tax bill in both France and the UK. Kingfisher expects the impact of changes to employers’ national insurance contributions (NICs) announced in the UK’s latest [...]
Affordable housebuilding in London down 88 per cent in dent to Khan’s rep

November 24, 2024

The number of affordable homes built in London between April 2023 and March this year fell by 88 per cent, despite continued promises from Mayor Sadiq Khan to boost the supply of housing in the capital. Just over 3,100 affordable housing builds began work across Greater London between April 2023 and March of this year, [...]
Shoppers warned to be wary of social media scams this Black Friday

November 24, 2024

Fraud is set to reach an all-time high this Black Friday, with online social media scams the most likely place for fraud to occur, according to new data. UK shoppers are expected to spend £9.14bn over the four-day Black Friday weekend – a 4.5 per cent increase on last year, according to Globaldata. But fraud [...]
Morrisons chief calls for urgent overhaul of business rates system

November 24, 2024

The chief of Morrisons has called for the business rates system to be radically overhauled so it “genuinely levels the playing field” between high street retailers and online operators. Rami Baitiéh, the boss of the supermarket, told The Mail on Sunday: “The current proposal threatens to drag hundreds of supermarkets, which are crucial to thriving [...]
M&S to reset prices overseas as international sales dip

November 24, 2024

M&S is looking to reset its prices in its overseas stores in a bid to turn around a slowdown in its international business. Chief executive Stuart Machin said the firm planned to “restore the competitiveness” of the company overseas and added that it was “way out of kilter on price”, The Sunday Telegraph reported. Despite remarkable [...]
Post-Budget consumer confidence rises in golden quarter boost

November 22, 2024

A leading confidence survey has found that consumer sentiment rose in November, which will come as a relief to businesses dependent on a good golden quarter to boost margins ahead of tax rises next year. All five measures of confidence rose, although major purchase intentions led the pack with a five-point jump. “There was evidence [...]
HMV suspends plans for new shops as Budget hikes costs

November 21, 2024

HMV has suspended plans to open more new stores next year, blaming the decision on the government’s tax-raising Budget. The company planned to open multiple shops in the UK in 2025, but HMV’s owner Doug Putman told The Telegraph yesterday that this proposal was now on hold following the Budget. Confirming the decision, Putman told [...]
Frasers tells Boohoo Mahmud Kamani must go: ‘His title might have changed but his grip has not’

November 21, 2024

Frasers has been quick to respond to Boohoo’s announcement that executive chair Mahmud Kamani will step back to vice chair, claiming it is not enough and he “must go”. This morning, Boohoo’s top investor called for a shareholder’s meeting to remove Kamani as a director and to replace him with Mike Ashley and Mike Lennon. At [...]
Boohoo co-founder replaced amid battle with Mike Ashley’s Frasers Group

November 21, 2024

The public spat between Mike Ashley’s Frasers Group and Boohoo has taken another turn as the struggling fast-fashion retailer announced its co-founder Mahmud Kamani was replaced as chairman. Non-executive director Tim Morris has taken on the role with immediate effect with Kamani becoming vice chairman. In a statement, the board of the Manchester-headquartered group said [...]

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Abramovich to fight UK Government over funds from £2.5bn Chelsea sale

Aboard the Celebrity Cruises ship with Gwyneth Paltrow partnership

By: Amber Murray

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