Tesco: Bumper Christmas sales will put shares in the spotlight this morning January 12, 2023 TESCO enjoyed a bumper Christmas period, it told markets this morning, with like-for-like sales up nearly 8 per cent despite bruising economic headwinds. The supermarket told markets this morning it had seen customers switching to Tesco across December. The boost meant revenues hit a cool £19.7bn in the UK and Ireland for the quarter to [...]
Exclusive: High Street queen Mary Portas says retail’s 2022 race to the bottom is finally over January 12, 2023 City A.M. sits down with the 'Queen of retail', or Madam High Street, retail consultant and broadcaster Mary Portas.
London holding off UK recession but businesses sweat over inflation January 12, 2023 London appears to be withstanding the UK’s wider economic decline, with businesses hiring at a record pace and expecting their finances to fatten up over the coming year, a new survey out today reveals. The capital’s jobs market is running at red hot levels, according to the London Chambers of Commerce and Industry’s (LCCI) latest [...]
FTSE 100 close: JD Sports springs London flagship index to 2018 high January 11, 2023 London’s FTSE 100 index leapt to its highest level since 2018 in afternoon exchanges in the City today after a series of strong retailer earnings signalled the UK consumer is holding up well amid the cost of living crunch. The FTSE 100 index climbed 0.99 per cent to 7,770 points, while the domestically-focused mid-cap FTSE [...]
On the right track? Rail boss optimistic but blames RMT for stalled talks after rejecting pay deal January 11, 2023 The RMT recommending its members vote against Network Rail’s improved offer hasn’t helped negotiations progress, the company’s chief negotiator Tim Shoveller told MPs today. Union members walked out between 6pm on Christmas Eve and 6am on 27 December as well as throughout last week after they rejected a 9 per cent pay offer. As part [...]
Mirror Group owner Reach’s shares tumble as it axes 200 jobs in £30m cost savings drive January 11, 2023 Daily Mirror and Express publisher Reach is to axe 200 jobs as part of major cost-cutting following a slump in advertising revenue. Shares in Reach plummeted by a quarter on Wednesday morning after a downbeat update from bosses. The company told staff would be cutting further roles across all parts of the business as it [...]
Sainsbury’s: Expected profits up as food shoppers splash Christmas cash but Argos bears brunt of cost of living crisis January 11, 2023 Sainsbury’s cashed in on Christmas shopping with retail sales up more than five per cent, as the supermarket giant expects its profit to be at the “upper end” of guidance. The major retailer now expects to be making close to £700m in pre-tax profit this March, despite the cost of living crisis weighing down consumer [...]
JD Sports expects pre-tax profits to top £1bn following Christmas surge January 11, 2023 JD Sports expects to post pre-tax profits of more than £1bn for the year ending on 3 February 2023 after it recorded a Christmas sales surge. The sportswear retailer said a strong performance in the second half of 2022, driven by a surge in sales over Christmas, will see it achieve its financial goals. The [...]
Heathrow: Strikes and ongoing charging issues fail to dent December’s passenger levels January 11, 2023 Heathrow Airport’s passenger numbers skyrocketed last month despite challenges posed by Border Force Strikes. The west London hub said 5.9 million travellers passed through its gates during the festive month, up 90 per cent on 2021 levels. Overall, the airport remained in line with former expectations, with 61.6 million passengers using Heathrow in 2022. John-Holland Kaye, [...]
Change of luck on the cards for Hewitson and Happy Soul January 10, 2023 FORMER South African Champion Jockey Lyle Hewitson finally looks set for a change of luck when he renews his association with the Danny Shum-trained HAPPY SOUL in division three of the Great George Handicap (12.45pm) over six furlongs. Hewitson is presently lying fifth in the jockeys’ championship table with 16 victories, but has had a [...]