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Retail and leisure

  • It’s all about quality: Fixing the Square Mile’s shopping district

    Retail

    As Oxford Street struggles to fill vacant spaces on its high street, many in the retail sector are also questioning what the future holds for the Square Mile’s shopping scene. At One New Change, the City’s prime shopping centre, which was launched in 2010 to rival London’s West End, there are about 10 vacant lots, [...]

  • Dating, DIY and Netflix: Brits stop spending on love and luxury due to cost of living crisis, Nationwide says

    Nationwide Building Society

    The value of households’ spending on subscription services, home improvements and dating fell annually in February, according to analysis by Britain’s biggest building society of its members’ outgoings. The volume of dating transactions fell by a third (33 per cent ) in February 2023 compared with the same month in 2022, also falling by 7 [...]

  • London loves Thursday! 3.3m use Tube in return to (co-working) office – and the pub

    This train terminates at, the pub

    Thursday is now the most popular day for London workers to head into the office – with over 3.3m jumping on the tube to join colleagues for after work drinks.  According to the latest ridership from TFL and WeWork shared exclusively with City A.M, Thursday is now the most popular weekday to travel on the [...]

  • Tim Martin’s JD Wetherspoon blames ‘ferocious’ inflation for profits plummeting 91 per cent

    March 24, 2023

    The chief of JD Wetherspoon has said blamed “ferocious” inflationary pressures in the pub industry as the pub giant reveals a 90.9 per cent loss in profits for the 26 weeks to January. As the cheap beer chain felt the hangover from Covid-19 and Brexit supply issues, pre-tax profits were down to £4.6m compared to [...]

  • Sharp increase in retail sales amid ‘subdued’ outlook due to inflation – but is there a ‘chink of light’ with Easter holidays?

    March 24, 2023

    British retail sales grew sharply last month compared to pre-pandemic levels, but price increases continue to deliver a “subdued” longer-term outlook. Sales volumes are thought to have increased by 1.2 per cent in February after a rise of 0.9 per cent in January, suggesting the industry is recovering from the pandemic well. Industry figures are [...]

  • Retail: 40 per cent of high street shops will have to be repurposed or they will ‘wither on the vine’, local leaders warn 

    March 23, 2023

    Some 40 per cent of high street shops will have to be repurposed or they will “wither on the vine” as the demand for physical retail dwindles, local leaders have warned.  According to a survey by trade body Revo and consultancy Lambert Smith Hampton, as first reported by The Guardian, the need to reinvent retail [...]

  • Share price down for 32Red and Platinum Gaming owner after £7.1m fine for failing gamblers

    March 23, 2023

    Online gambling group Kindred Group’s share price slumped more than two per cent at the open this morning, after two of its major operators 32Red and Platinum Gaming were slapped with a £7.1m fine for regulation failures. The betting firm was wrapped for failures in its social responsibility duties and anti-money laundering measures, according to [...]

  • First Kingfisher now Wickes: DIY drop off dents profit for home improvement – but it’s not all bad news

    March 23, 2023

    Wickes has seen a drop in profits for the year as consumers’ love for home improvements took a dent from rising costs, despite the company reporting ‘record’ sales. The DIY retailer posted pre-tax profits of £75.4m down from a “record” £85.0m in 2021 when Brits were engulfed in a number of circuit breaker lockdowns and [...]

  • Budweiser hints at future price rises as cost inflation starts to bite

    March 22, 2023

    Budweiser has hinted that it might have to raise its prices in the UK and Ireland in the future as cost inflation continues to hit companies’ bottom lines. Brian Perkins, group president of Budweiser Brewing Group in UK and Ireland, told City A.M., that “no company has been immune to cost inflation”.  Explaining the dilemma [...]

  • The imperfect tonic: Fever-Tree to raise prices amid soaring cost inflation

    March 22, 2023

    Up market tonic maker Fever-Tree has revealed plans to hike its prices, as it continues to navigate a surge in production costs. The company said made a loss in earnings for the year with revenues down 0.2 per cent to £116.2m from £118.3m the prior year. The London-listed adult drinks company said it felt the financial [...]

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