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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Sainsbury’s to sell Argos in £120m cut-price deal

July 31, 2026

Sainsbury’s has said it will sell long-struggling catalogue retailer Argos for £120m, a fraction of the £1.4bn it bought it for a decade ago. The supermarket giant has struck a deal with Swift Partners – a new company led by On the Beach chairman Richard Pennycook and former Morrisons boss Trevor Strain. Their takeover will [...]
ITV hands shareholders £100m returns after £1.6bn Sky deal

July 31, 2026

ITV has announced a £100m share buyback as part of its commitment to return £950m to investors following its blockbuster £1.6bn Sky deal. The broadcaster said the “milestone” merger will “unlock significant value for shareholders,” as it posted a two per cent jump in revenue across the last six months. Earlier this month, ITV agreed [...]
As it happened: Stocks reach new record as investors shrug off Iran war fears

July 31, 2026

Welcome back to the City AM liveblog. It’s Friday morning and the FTSE 100 has opened into the green, following two consecutive days of record gains for the blue-chip index. London’s blue-chip index was up as high as 0.7 per cent in early trading to 10,971.88p, “The FTSE 100 tested new record highs on Friday morning as [...]
Gino D’Acampo restaurants face HMRC winding-up order

July 30, 2026

The company behind TV chef Gino D’Acampo’s restaurant empire has been hit with a winding-up petition by the UK tax authority. Upmarket Hotels & Leisure, which runs five British restaurants named after the former This Morning star, was served the petition by HMRC after a filing made to the High Court, as seen by City [...]
Currys hands outgoing boss Alex Baldock £2m pay rise

July 30, 2026

FTSE 250 giant Currys has handed its outgoing boss Alex Baldock a more-than-£2 m pay rise, capping off the chief executive’s successful turnaround of the business. The electrical retailer handed Baldock a £6.3m total pay package this year, marking a 54 per cent hike from last year’s £4.1m. Baldock joined Currys in 2018 and is [...]
Foxtons hits out at Renters’ Rights Act as profit halves

July 30, 2026

Foxtons’ profit slipped as the London estate agency hits out at the Renters’ Rights Act, blaming the new tenant powers for causing a surge in renters cancelling their tenancies. The London-listed firm said the new law meant a higher number of tenants cancelled their rental agreements in May and June, meaning the estate agency lost [...]
As it happened: FTSE 100 hits new high after interest rates held

July 30, 2026

Welcome back to the City AM liveblog. The Bank of England has held interest rates at 3.75 per cent in a 6-3 split. The City had pencilled in a hawkish hold from the Monetary Policy Committee after inflationary pressures were renewed on the latest round of strikes in the Middle East. Megan Greene, Catherine Mann and [...]
Greggs eyes 3,500 sites – but its plans could prove to be flaky

July 30, 2026

Sausage roll titan Greggs is already a fixture of almost every British high street, but it’s not done yet. Felix Armstrong chews through its latest expansion plans As Brits jet off to Spain for their summer holidays this year, they will be met with a familiar sight as they touch down at Tenerife airport. Beloved [...]
Trump warns Iran: ‘We’re going to beat the f***ing s*** out of them’

July 29, 2026

Donald Trump has vowed to hit back at Iran after it launched “surprise” strikes against US forces in the Middle East last night. “We’re going to beat the f***ing s*** out of them. We’ll be hitting them hard. They’re going to get a beating,” the US President told Fox News on Wednesday. Oil prices have [...]
Mike Ashley’s Frasers circles Burberry in latest luxury swoop

July 29, 2026

Mike Ashley’s Frasers Group is eyeing up a holding in Burberry as its latest push into luxury fashion. Frasers has revealed that it holds the rights to a 4.2 per cent stake in the British fashion house, which would make Ashley’s group one of its biggest shareholders. The position is held through put options, which [...]

JD Sports cuts profit forecast as Régis Shultz growth plan slows

Billionaire Ackman slams US Open ticket prices as absurd

Counter culture: The best counter dining in London

By: Felix Armstrong

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