Currys: £60m wiped off market cap as share price tanks 12 per cent after retailer pulls dividend July 6, 2023 Around £60m has been wiped off Currys’ market cap this morning as its share price tanked over 12 per cent, following the retailer pulling its dividend in wake of poor results. Currys revealed that it would not be paying its final dividend to shareholders following poor performance, as its Nordic arm weighed down revenue. The retailer [...]
Value of London homes sinks as red hot mortgage rates continue to rattle market July 6, 2023 Some 68 per cent of west London homeowners have seen the value of their property decrease since last November, new data shows, as soaring mortgage rates and a difficult buyer market rattle the capital’s housing sector. As buyer confidence falls due to red hot mortgage rates 7,000 homes across west central London decreased in value [...]
Commons Committee demands answer from Asda over ‘unclear’ fire and hire evidence July 5, 2023 The Business and Trade Committee is demanding Asda provide more evidence over it’s “unclear” fire-and-rehire strategy, after some 7,000 workers were threatened with the practice back in May. Chair of the committee, Darren Jones, is hauling the ‘Big Four’ grocer back in front of MPs after it said it was “concerned about apparent discrepancies” between [...]
Center Parcs: £4bn deal back in spotlight as frontrunners for British resorts firm bail July 5, 2023 The £4bn deal to buy British holiday resorts firm Center Parcs is back in the spotlight after two frontrunners for sale have reportedly dropped out of the race. Its Canadian owners, Brookfield, put the six strong holiday village up for sale in May, with the sale sparking interest from a flurry of private investment firms [...]
Matalan accused of ‘cowboy buying practices’ in cost-cutting drive July 5, 2023 A group of Asian suppliers has accused Matalan of “cowboy buying practices,” after the value retailer reportedly attempted to haggle for 20 per cent price cuts on some orders. The disgruntled supplier said the fashion and homewares brand displayed some of the “most aggressive, unreasonable buying practices” they had ever seen, speaking to The Times [...]
Topps Tiles stays in black as soaring costs on supplies cools July 5, 2023 Topps Tiles was on track to deliver profit in line with expectations, as it was aided by strong sales in the third quarter and an easing of supply pressures. The home supplies retailer said inflationary pressures on the cost of goods and shipping costs reduced during the period, despite overall UK inflation still sitting at [...]
AO World swings back to profit thanks to reduced costs while revenue down 17 per cent July 5, 2023 AO World swung back into profit on reduced costs and better margins as the firm said it made a 17 per cent loss in revenue in its annual results. The white goods retailer said revenue decreased by 16.8 per cent to £1.1bn compared to £1.3bn in the same period last year ending 31 March, as [...]
Wine sector reeling as price of a bottle set to be taxed 20 per cent more July 5, 2023 Wine lovers will be taxed 20 per cent more on their favourite bottle of red or white in a month’s time, as the government steams ahead with its alcohol duty tax hikes, spelling further pain for customers and businesses. Chancellor Jeremy Hunt announced the measures as part of the Spring Budget back in March, which [...]
Wine sector reeling as price of a bottle set to be taxed 20 per cent more come August July 4, 2023 Wine lovers will be taxed 20 per cent more on their favourite bottle of red or white in a month’s time, as the government steams ahead with its alcohol duty tax hikes, spelling further pain for customers and businesses. Chancellor Jeremy Hunt announced the measures as part of the Spring Budget back in March, which [...]
Brits spend £4.1bn drinking beer at home during cost of living and price of a pint crises July 4, 2023 Brits are staying at home and cracking open cold beers from the fridge, as twin cost of living and price of a pint crises change drinkers’ habits. New research out today show a 25 per cent surge in beer sales in supermarkets and shops outside local boozers, during the cost of living crisis. While the [...]
