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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Hermès and Gucci shares tank in ‘dismal’ week for luxury brands

April 16, 2026

Investors have fled from leading luxury stocks like Hermès and Gucci this week after they revealed tumbling sales as a result of the Iran war. The market was quick to respond to the poor results from several top fashion houses, as doubts swirl around the Middle East’s role as a key market for luxury brands. [...]
M&S Sparks rewards overhauled as retailer offers cash perks

April 16, 2026

Marks & Spencer has overhauled its Sparks card reward scheme using AI after shoppers demanded cash perks instead of the existing points-based system. The upmarket food and clothing giant said it is responding to consumer criticism of its loyalty scheme by offering “personalisation and pounds, not points and tricksy pricing”. The Sparks Card had faced [...]
Brewdog could mount $1bn resurgence, new owner says

April 16, 2026

The new owner of Brewdog has said the craft beer brand can be worth $1bn, as the firm tries to “rebuild” the brand to its former glory. Tilray, a US-based cannabis and alcohol products firm, said it plans to pile significant investment into Brewdog to make it profitable next year and propel it towards a [...]
‘Soul destroying’: Why London’s luxury property market has taken the biggest hit in a decade

April 16, 2026

It’s been almost three years since Emma first put her Kensington home on the market. With an initial asking price of just over £4m, she turned down a number of early low-ball offers before accepting one only slightly below what she’d wanted. But after months of dithering, the buyer pulled out at the last minute. [...]
Tesco boss downplays double-digit food inflation warning over Iran war

April 16, 2026

The boss of Tesco said he doesn’t “recognise” warnings that food inflation could soar to double digits this year due to supply chain chaos caused by the Iran war. Ken Murphy, chief executive of the supermarket giant, said he currently has no concerns over significant price inflation and “doesn’t know” whether this is coming down [...]
Tesco shares jump as profit surges despite Iran ‘uncertainty’

April 16, 2026

Tesco shares jumped in early deals this morning after the retailer reported a better-than-expected profit for the year to the end of February. The supermarket giant made an operating profit of over £3.1bn in the year to February 2026 compared to its own forecasts of between £2.9 and £3.1bn. The supermarket expects to make an [...]
Franco Manca shuts 16 restaurants, blaming ‘disproportionate’ taxes

April 15, 2026

Franco Manca has taken aim at “disproportionately high” taxes facing the hospitality sector after the pizza parlour shut 16 restaurants in a structural overhaul. The privately-owned restaurant chain said it is suffering from high VAT and “significant” hikes to national insurance and minimum wages, with the site closures to cost hundreds of jobs. The move [...]
Housebuilding stocks recover as industry reaches ‘rock bottom’

April 15, 2026

The UK’s biggest housebuilder kept to the well-rehearsed tone of gloom which has loomed over the sector in recent months, when it became the latest to pull back on spending amid the market uncertainty caused by the Iran war. FTSE 100 firm Barratt Redrow said its financial targets hold firm, but warned that the blockage [...]
Pizza king points to youth joblessness as restaurant group eyes takeovers

April 15, 2026

The boss of restaurant group Bow Street raised concerns over youth joblessness as the firm behind Dim T slipped into an annual loss, but outlined his dealmaking plans. David Page, now the chief executive of the Aim-listed firm, is a former boss of Pizza Express and played a key role in the expansion of Franco [...]
Supermarkets ‘taking mickey’ on pricing, says olive oil boss

April 15, 2026

A leading retail trade body has taken on big olive oil over claims supermarkets are “taking the mickey” over their pricing of the product. The British Retail Consortium (BRC) has hit back at the boss of olive oil maker Filippo Berio after he accused grocers of failing to pass falling prices onto consumers. The price [...]

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By: Felix Armstrong

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