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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Pret A Manger dumps US franchise agreement after just two years

June 9, 2026

Pret A Manger has dumped the franchise agreement which it had launched to expand in the US after just two years, its latest accounts revealed. The coffee chain formed a joint venture, known as Empire JointStar, with its franchise operator Dallas Holdings in October 2023, in a bid to accelerate its expansion in the US. [...]
‘Reason to be optimistic’: Hospitality bosses say World Cup a lifeline for pubs

June 9, 2026

Pub bosses are hoping for a much-needed boost from the World Cup this summer, as the hospitality industry warns of a crushing tax and cost burden. Leading pub chains Greene King and JD Wetherspoon have told City AM they are hoping for a “useful boost” to counteract the “layering of costs” they have faced in [...]
Housebuilder Bellway warns mortgage rate hikes dampening housing demand

June 9, 2026

Bellway has said that recent rises to mortgage rates as a result of the Iran war are dampening demand for housing, on top of rising building cost inflation due to the conflict. The FTSE 250 housebuilder said it has seen a “moderation” in customer demand in April and May, bringing an end to a “positive” [...]
Tate & Lyle becomes latest market stalwart to quit London

June 9, 2026

Tate & Lyle on Monday became the latest City stalwart to head for the door. Felix Armstrong recounts the accelerating exodus from London’s stock market As the summer holidays beckon, stalwarts of the London Stock Exchange are packing their bags ahead of a potential departure to warmer climes. FTSE grandee Tate & Lyle became the [...]
Heatwave boost for retailers as Brits snapped up BBQs and fans

June 9, 2026

The late-May heatwave offered a much-needed boost for retailers as the hot weather prompted red-hot spending on barbecues, fans and sandals. Retail sales in the UK jumped by 3.7 per cent year on year in May, soaring above the full-year average of two per cent, according to the British Retail Consortium (BRC). Many Brits opted [...]
Jeremy Hunt: Pension triple lock is an ‘anchor drag’ on economic growth

June 8, 2026

Former chancellor Jeremy Hunt has warned that the triple lock on the state pension is acting as “an anchor drag on economic growth.” In an interview with City AM, Hunt said that above-inflation rises to the state pension are being funded “by more debt” on future generations and called for every major party to pledge [...]
Government warned ‘unworkable’ new healthy food rules will backfire

June 8, 2026

The food and drink industry has warned Labour its new healthy food red tape will backfire, as manufacturers insist they are already investing millions in making products healthier. Food and drink manufacturers are racing to prove to the government that they are cutting salt, sugar and calories from their products – as Labour plans to [...]
James Watt: I want to buy back Brewdog

June 8, 2026

Brewdog founder James Watt has revealed he wants to buy back the craft beer firm he quit years ago, as he hit out at those who blame him for its collapse. Watt recently launched a comeback designed to win over the “equity punks” who piled millions into his initial venture but saw no returns from [...]
Tate & Lyle confirms £2.7bn takeover by US rival

June 8, 2026

Tate & Lyle has accepted a £2.7bn takeover deal by a rival American food firm, in the latest flight of a historic brand from London’s stock market. The 123-year old business said Ingredion’s offer – which totals 615p per share – represents an “attractive opportunity for shareholders”. The deal comes after the company revealed another [...]
Billionaire John Caudwell: Britain needs to stop criticising the wealthy and start celebrating success

June 5, 2026

Phones4U founder John Caudwell’s new Riviera development features a £250k statue of himself. Billionares should be proud of their success, he tells Felix Armstrong “If I was trying to purely make money, I would have built student accommodation in Manchester and put another 5,000 Chinese people in there,” billionaire and philanthropist John Caudwell says as [...]

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By: Felix Armstrong

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