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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Hotel group PPHE reports double-digit growth after strong summer

October 31, 2024

Hospitality real estate group PPHE has reported strong growth driven by higher occupancy rates in central and eastern Europe. The LSE-listed company posted record revenue of €125.4m (£104.8m), an increase of €12.6m, or 11 per cent, year on year. The firm, which is registered in Guernsey, said that demand continued to increase for its city centre hotels [...]
Ocado announces new chair sooner than expected

October 31, 2024

Ocado has announced KKR senior advisor Adam Warby will succeed Rick Haythornthwaite as its chairman in December. As well as working for KKR, Warby also serves as chair of management consultant firm Heidrick & Struggles, and previously held various positions at Microsoft and IBM. Earlier this year, Ocado said Haythornthwaite would step down to focus [...]
Coca-Cola HBC enjoys double-digit growth

October 31, 2024

A bottling giant behind Coca Cola and other major soft drinks has upgraded its guidance due to double-digit growth driven by continued demand in emerging markets. Coca-Cola HBC said that organic revenue grew by 13.9 per cent during the third quarter, with year-to-date revenue growth of 13.7 per cent. It upgraded its guidance for revenue [...]
Autumn Budget 2024: Reeves commits £5bn for Government housebuilding programme

October 30, 2024

Chancellor Rachel Reeves has committed in the Budget to more than £5bn of investment over 2025-2026 to deliver the Government’s ambitious plans on housing next year. In the Budget, Reeves announced a range of measures to support Labour’s target, including skills training, reforms to the planning system and additional assistance for affordable housing. She also [...]
Autumn Budget 2024: Stamp duty for second homes upped to support first-time buyers

October 30, 2024

Chancellor Rachel Reeves has increased the amount of tax Brits will pay when buying their second home to provide support for first-time buyers and those moving home. Second-time buyers previously paid three per cent stamp duty on homes worth up to £250,000. From tomorrow, they will pay five per cent tax. The increase will also [...]
Next predicts £1bn profit after cold weather boosts sales

October 30, 2024

Next has upgraded its profit forecast for the year to over £1bn after better-than-expected sales in its third quarter. The FTSE 100 retail giant, which is headquartered in Leicester, has upgraded its guidance from £995m to £1.005bn. In an update to the London Stock Exchange, Next said full price sales in the three months to 30 October [...]
GSK: Zantac settlements hit profit but guidance unchanged

October 30, 2024

Pharmaceutical giant GSK has reported a drop in profit due to charges related to the Zantac lawsuits but has reaffirmed guidance and said its core outlook remained unchanged. Operating profit fell by 86 per cent, and earnings per share slumped due to a settlement charge of £1.8bn related to the Zantac lawsuits. The lawsuits arose [...]
Convenience stores issued £634m warning ahead of Budget

October 29, 2024

A lobby group has warned convenience stores could be set for a huge bill next year as tax hikes are expected to be included in the Autumn Budget. The Association of Convenience Stores has said the sector will face a potential bill of £634m due to wage increases, plus changes to National Insurance contributions and [...]
Insolvencies at fashion manufacturers jump on cocktail of cost pressures

October 29, 2024

Insolvencies at UK fashion manufacturers have risen by nearly a quarter in the past year as a combination of supply and demand pressures has driven firms under while customers switch to pre-loved clothing. According to Forvis Mazars, the international tax and advisory firm, over 100 companies went bust in the year to July 2024, up [...]
Foxtons acquires commuter town estate agents in expansion drive

October 29, 2024

Estate agents Foxtons has acquired two smaller companies in commuter towns as it looks to expand its presence in the lettings market. Haslams, in Reading, and Imagine, in Watford, will be bought by Foxtons for £7.6m and £5m respectively. The acquisitions will increase Foxtons’ footprint to 64 branches, as well as delivering an extra 2,900 [...]

Nine in ten hospitality job switchers quit the sector

Alpine boss confirms four potential buyers, including Mercedes, for F1 team

Spirit of Speyside Whisky Festival to drive millions into Scotch sector

By: Amber Murray

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