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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Not-so-drastic Dave: Diageo boss defies expectations of slash-and-burn reign

February 25, 2026

‘Drastic Dave’ Lewis, who gained a reputation for cost-cutting and ruthless rationalisation during his time at Unilever and Tesco, was more ‘demure Dave’ when announcing Diageo’s first results of his tenure as chief executive. The spirits giant has been struggling in recent years, with its share price down 22 per cent year-on-year – and Lewis’ [...]
Weight-loss drugs to slow supermarket sales

February 25, 2026

Weight-loss drugs are set to slim down supermarket sales in the UK as more Brits opt for diet-conscious shopping, a City broker has warned. The growth rate of supermarket sales is expected to slow this year due to the increasing popularity of diet-suppressant jabs, population growth and falling food inflation, according to a note from [...]
Diageo slashes dividend as ‘Drastic Dave’ takes charge

February 25, 2026

Guinness maker Diageo has slashed its dividend as the cost-cutting regime of new chief executive ‘drastic’ Dave Lewis begins to take hold, prompting a share price spook. The board announced the “difficult” decision to cut its dividend to 20 cents to “accelerate the strengthening” of its balance sheet in its interim results, the first financial [...]
Third of London homes cheaper to buy than to rent as prices fall

February 25, 2026

More than a third of London homes are now cheaper to buy than to rent as house prices in the capital shrunk in the last year. The proportion of London houses which are cheaper to buy with a mortgage has doubled since last year, from 18 to 36 per cent, while still lower than the [...]
Jammie Dodger owner tastes sweet success after return to profit

February 24, 2026

Profit at the biscuits giant behind Jammie Dodgers and Wagon Wheels hit a sugar rush as the firm turned to a Strictly Come Dancing judge and a “Dubai-inspired” biscuit to boost revenue. The group, which includes Burton’s Biscuit Company and Fox’s Biscuits, has posted a nine per cent boost in revenue, to £695m for the [...]
Developers shrink Silk Street plans to dodge objections

February 24, 2026

Plans for a huge new office development in the heart of the City have been shrunk in a bid to dodge objections raised by furious locals. The plans to redevelop the existing western building, located next door to the Barbican estate, will now see it stand ten metres shorter than initially planned, in response to [...]
Shoplifting cost retailers £400m last year

February 24, 2026

British retailers lost out on nearly £400m last year due to shoplifting, despite falling numbers of violent theft and abuse. Violence and abuse against shopkeepers occurred 1,600 times per day on average, down 20 per cent from 2,000 last year, according to a crime report published by the British Retail Consortium (BRC). The Crime and [...]
Pubs to open late during World Cup – a life raft for hospitality?

February 24, 2026

Though the Labour government and the country’s thousands of pub landlords have very rarely seen eye-to-eye in recent months, the World Cup could bring a summer truce to this fiery dispute. Hospitality trade bodies and one of the country’s biggest pub chains have told City AM they welcome the government’s move to allow pubs to [...]
Admiral pubs boss: business rates will ‘kill off the high street’

February 23, 2026

The boss of a northern-based pubs company has claimed business rates will “kill off” the high street as well as pubs unless the levy is fundamentally reformed. Chris Jowsey, chief executive of Admiral Taverns, told City AM the government must deliver on its pledge to overhaul the business rates system, which he said “penalises bricks [...]
Novo Nordisk shares tumble after drug trial falls short

February 23, 2026

Shares in Danish drug giant Novo Nordisk have shed more than a sixth of their value after poor drug trial results sparked an investor selloff. The firm behind weight-loss drugs Ozempic and Wegovy saw its shares tumble by 16.7 per cent to 257.23 Danish Krone on Monday morning after trials of its new obesity shot, [...]

Championship play-off final may be postponed over spygate, EFL admits

Championship play-off final may be postponed over spygate, EFL admits

Our honest review of the brand new Aston Martin DB12 S

By: Felix Armstrong

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