By: Helen Cahill

I report on retail and property for City A.M. I have covered the investigation into BHS and London's housing crisis. You can email me on helen.cahill@cityam.com with tips or commentary.

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Sir Philip Green agrees to contribute £363m to BHS pension scheme

February 28, 2017

Controversial retail tycoon Sir Philip Green has sought to put a torrid period of parliamentary and media scrutiny behind him, agreeing to put £363m in cash towards BHS’ substantial pension scheme deficit. MPs investigated the sale of BHS last year and labelled Green the "unacceptable face of capitalism" for selling the high street store to [...]
When will it stop? Boohoo upgrades sales forecast yet again

February 28, 2017

Boohoo has upgraded its sales forecast yet again, saying this morning that sales will double this year. Previously, Boohoo said its sales growth would be in the range of 46-48 per cent for the full year to 28 February. The online retailer, which targets millennials, said it had also improved its operations, meaning its margins [...]
Derwent London’s shares rise on new lettings and special dividend

February 28, 2017

Office developer Derwent London's share price climbed this morning after it lifted its final dividend by 25 per cent and also announced a special dividend. The figures In its results for the year ending 31 December, Derwent posted a net rental income growth of 5.2 per cent, up from £138.7m in 2015 to £145.9m last year. The [...]
Taylor Wimpey’s profit jumps over 20 per cent

February 28, 2017

Taylor Wimpey left 2016 on a high, reporting this morning that its profits jumped more than 20 per cent last year. The figures Profit before tax jumped 21.5 per cent, from £603.8m in 2015 to £733.4m last year, and revenue rose 17.1 per cent year-on-year from £3.14bn to £3.68bn. Read more: Safe as houses? London [...]
Convenience store chain McColl’s scores sixth year of sales growth

February 27, 2017

McColl’s Retail Group said yesterday that its full-year revenue increased 1.9 per cent to £950.4m, up from £932.2m in 2015. Total like-for-like sales were down 1.9 per cent, in a trend that was consistent with prior year performance. Read more: Christmas come early: CMA approves McColl's acquisition of 298 Co-op stores Profit before tax came [...]
Tesco is removing 1,700 deputy managers from its stores

February 27, 2017

Around 1,700 Tesco employees face an uncertain future as the business eliminates a layer of management and replaces the jobs with lower-paid roles. The UK's biggest supermarket is replacing deputy managers in its "Express" convenience stores and creating 3,300 new, lower-paid "shift leader" jobs. Read more: Why Tesco could be better off leaving Booker on the shelf [...]
Network Rail bags £743m for retailers in its stations in 2016

February 27, 2017

Retailers in Network Rail stations cashed in on commuters' Christmas shopping last year, boosting sales by 3.7 per cent in the final quarter of 2016, bringing the total sales to £743m. In the quarter, shoppers spent nearly £185m in Network Rail stations, such as Paddington, King's Cross, Manchester Piccadilly and Liverpool Lime Street. Read more: Retail sales bounce [...]
UK property sector pays tribute to the late Irvine Sellar

February 27, 2017

Irvine Sellar, the man who built the Shard, has passed away after a short illness, aged 82. The news has come as a shock to many in the property industry, with tributes pouring in to honour the man who built the UK's tallest building during a recession. Nick Candy, chief executive of Candy Capital, said: [...]
Inflation and business rates to deliver £6.8bn hit to small businesses

February 27, 2017

Inflation and business rate rises could deliver a £6.8bn hit to small and medium-sized businesses this year. The rising costs are leading more than half (57 per cent) of these firms to predict their revenues will not grow this year, according to a report from insurance group RSA. Fourteen per cent of small and medium [...]
Discretionary income is “fading fast” as fuel prices squeeze families

February 27, 2017

Growth in discretionary income is "fading fast" as fuel prices soared in January. UK families had an average £205 of disposable income available each week last month, according to Asda's income tracker, up 3.5 per cent on the same month the year before. Read more: Alarm bells sound over rising costs and inflation However growth [...]

Rayner to back Burnham’s Westminster bid

Drinking in stands hailed as success as more clubs join WSL pilot scheme

This Soho pub is putting on a ‘problematic’ show about a drunkard

By: Helen Cahill

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