Co-op welcomes former N Brown finance chief as new group CFO March 7, 2023 The Co-operative group has welcomed Rachel Izzard as chief financial officer and a member of the Co-op group board. The supermarket and funeral care provider said that Izzard will take up the position in June following the end of current interim Mike Hazell’s contract. The financial veteran has held a number of CFO positions, including [...]
High rents are driving young people out of London and depriving businesses of talent, industry warns March 7, 2023 Fears that young talent could be driven out of London due to soaring rents and a lack of affordable accommodation is “bad news” for London’s businesses and the economy, industry bodies warn. Paul Swinney, director of policy and research at Centre for Cities’, told City A.M the capital has already seen a “squeeze” on the [...]
In The Style: Shares slump to new lows as retailer forced to sell business to avoid collapse March 7, 2023 In The Style has seen its share price slump 5.3 per cent this morning, after the embattled fast fashion brand revealed that it was forced to sell its business to avoid administration. The fast fashion retailer, which was once valued at £105m when it floated on the London Stock Exchange, said it has received a [...]
Fall out from mini budget STILL being felt by Foxtons, as estate agent reduces sales pipeline March 7, 2023 Foxtons has said that it is still feeling the effects of the mini budget as the listed estate agent is forced to reduce its sales pipeline for the year. The London-listed group warned the effects will be felt for the “majority” of 2023, after October’s mini budget led to a sharp drop in house buying [...]
Greggs on a roll: Baker will boost its UK sites to 3,000 as later opening proves a hit with steak bake lovers March 7, 2023 Steak bake favourite Greggs said it expected to become a “significantly larger” business as it announced plans to grow its presence to 3000 sites following stellar sales figures. The budget bakery chain saw total sales up 23 per cent to £1.5bn in 2022, compared to £1.2bn the previous year, as consumers craved the brand’s new [...]
Retail sales: Shoppers feeling the love in lead up to Valentine’s Day not enough to protect sector from ‘volatile trading conditions’ March 7, 2023 Shoppers scrambling for gifts in the lead up to Valentine’s Day helped boost retail sales in February, however the sector has warned that it’s still facing “volatile trading conditions”. According to figures published by the British Retail Consortium (BRC), UK total retail sales increased by 5.2 per cent in February as consumers showed they were [...]
Aston Martin shares race to new highs on FTSE 250 following Grand Prix win March 6, 2023 Shares in Aston Martin have raced to new highs on the FTSE 250 this morning, building on from the luxury car maker’s 26 per cent revenue increase last week and third place win in the opening of the F1 Grand Prix on Sunday. Aston Martin took the lead on the FTSE 250 on Monday morning [...]
Starbucks puts UK sale rumours on ice with £30m 100-store expansion and refurb plans March 6, 2023 Starbucks has crushed rumours it was considering the sale of its UK business with plans for a 100 more stores across the UK. The US coffee chain said it was also planning to inject £30m into refurbishing its 1,066-strong current store offering and opening a range of new cafes. Last summer, the frappuccino maker was [...]
Costa Coffee hikes staff pay as cost of living crisis prompts chain to raise wages for third time in 12 months March 6, 2023 Costa Coffee became the latest coffee chain to give its staff a pay rise, as employers seek to retain employees who are battling a cost of living crisis. Beginning in April, some 16,000 baristas at the high street coffee chain will see wages increase from £10 per hour to £10.70 per hour. The rise is [...]
Car sales: Better deals and more availability have pushed numbers up with Vauxhall models most popular March 6, 2023 The number of newly registered vehicles rolled out on the UK’s roads continued to soar with car sales rising for the seventh consecutive month. According to figures published by the Society of Motor Manufacturers and Traders(SMMT) car registrations rose by 26.2 per cent in February as an easing of supply chain shortages steered the market [...]