By: Felix Armstrong

Retail Reporter Felix Armstrong is City AM's retail reporter, covering retail, hospitality and property news. He has previously written for The Times, The Guardian, The Telegraph and The i Paper. Email Felix at Felix.Armstrong@cityam.com

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Vistry angers market with £30m loss as new boss faces turbulent start

Property

Vistry has attracted the ire of shareholders and analysts after it revealed a £30m first-half loss, as the firm stutters under its new chief executive. The FTSE 250 housebuilder delivered an unscheduled update to shareholders this morning, revealing that chief financial officer Tim Lawlor will quit in October after being headhunted by a “large privately-owned [...]
Tesco ‘in talks’ to exit eastern Europe

Retail

Tesco is reportedly considering cutting loose its business in central and eastern Europe in a move to end its expansion outside of the UK and Ireland. The supermarket giant has hired bankers to explore the possibility of a sale of its operations in Hungary, the Czech Republic and Slovakia, according to the Financial Times. A [...]
FTSE 100 property firm slams ‘opportunistic, one-sided, inadequate’ takeover offer

Property

Real estate investment trust Segro has issued a strongly-worded rebuttal of the £12.6bn takeover bid tabled by its US rival. In a scathing updated to investors, the FTSE 100 property firm branded Prologis’s offer “opportunistic, one-sided and inadequate”, after the American investment behemoth proposed combining the two companies into a mammoth investment trust last month. [...]

Jet2 handed £400m boost from Iran war jet fuel spike

July 8, 2026

Jet2 recorded a £400m boost from the rising price of jet fuel which caused widespread fear that summer holidays could be cancelled and airlines could go bust. The package holiday provider revealed that it defied the travel chaos caused by the Middle East conflict to instead take a £388m balance sheet boost from rising jet [...]
Terry Smith dubs weight-loss giant Novo Nordisk ‘investment disaster’

July 7, 2026

Star stockpicker Terry Smith has dubbed weight-loss giant Novo Nordisk an “investment disaster” less than two years after he dumped his entire Diageo stake over fears that GLP-1 users would ditch alcohol. The veteran investment manager, who runs the Fundsmith Equity fund, has said that he regrets his investment in the Danish pharmaceutical firm. “Novo [...]
Brits wary of EU summer hols as officials refuse to ease new border checks

July 7, 2026

The European Union has refused to suspend its divisive new border checks despite admitting that it has found 20 “difficult spots” causing queuing chaos. The EU has said it will stand by its new Entry/Exit System (EES), a biometric border regime whose botched rollout has threatened to ruin thousands of summer holidays. Officials admitted that [...]
M&S chair: Tax and employment costs holding back Britain

July 7, 2026

Rising taxes and employment costs are holding businesses back from investing in Britain and helping it “prosper,” an M&S boss has said. Archie Norman, chairman of the retail giant and former chief executive of Asda, told shareholders on Tuesday that these “big regulatory headwinds” are “not making it easier to invest and prosper in Britain”. [...]
Young’s pubs score World Cup trading boost

July 7, 2026

Young’s has seen a surge in trading as a result of England’s success so far in the World Cup, the pub operator said. The FTSE-listed hospitality firm said its nine per cent jump in revenue in the last 14 weeks was in part driven by the initial stages of the World Cup, where England has [...]
House prices rise as mortgage rates ease from Iran war highs

July 7, 2026

House prices inched up in June as mortgage rates softened following a sharp spike in response to the Iran war. The average UK property price rose by 0.2 per cent in June to £299,330, compared to a 0.2 per cent fall in May, according to the Lloyds house price index. Inflationary fears and expectation of [...]
Everyman to open at Elephant & Castle as £500m regeneration gains pace

July 7, 2026

Everyman is set to expand its presence in the capital with a new five-screen cinema at the £500m regeneration of Elephant and Castle. The up-market cinema chain has faced tough trading conditions in recent years but hopes to take a boost from the footfall expected at The Elephant, the redevelopment of the south London area. [...]

FCA charges City lawyer with insider dealing over maternity brand acquisition

EuroLeague CEO interview: ‘NBA Europe? We have never been stronger and will never disappear’

First look: The Ferrari Daytona Shooting Brake ‘Hommage’

By: Felix Armstrong

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