Economy: Why the latest data makes a ‘technical’ recession seem (almost) inevitable – with pub spending the only white knight January 19, 2024 The UK appears set to enter recession - and even if the term is in some ways meaningless, it's still very bad news indeed
DFS cuts revenue guidance after muted UK retail Christmas January 19, 2024 The furniture retailer still expects to meet underlying profit guidance despite a fall in demand
Retail sales crash 3.2 per cent in December as struggling high street hits Covid-era low January 19, 2024 UK retail sales plummeted 3.2 per cent in December, well below analyst expectations and the largest monthly fall since January 2021 when coronavirus restrictions pushed down sales. Analysts had expected sales to fall by 0.5 per cent in the last month of the year, but a significant drop in both food and non-food store sales [...]
Mike Ashely’s Frasers Group raises stake in Boohoo to 22 per cent January 18, 2024 Mike Ashely’s Frasers Group has upped its stake in Boohoo again, taking it from 17 per cent to over 22 per cent. Shares in the fast fashion firm leaped over three per cent this morning as investors responded positively to the news. Frasers, formerly called Sports Direct, said over the summer its purchase of Boohoo [...]
Royal Mail chief warns network ‘not sustainable’ and ‘urgent action’ needed to save it January 18, 2024 The chief of embattled Royal Mail has called for "urgent action" as the postal service braces against inflation and dwindling letter volumes.
Young’s reports bumper Christmas sales as shareholders wave through City Pub Group deal January 18, 2024 Young and Co.'s pub chain said raked in bumper sales during the Christmas period as it sealed the acquisition of the The City Pub Group this morning.
Watches of Switzerland: Shares crater 30 per cent as demand for luxury flattens January 18, 2024 Shares in Watches of Switzerland have fallen by over 30 per cent after the luxury watch maker warned on its earnings for the year. . In an update, the Rolex seller said that it was bruised by “challenging macroeconomic conditions” over Christmas which impacted consumer spending in luxury retail. It now expects revenue for the [...]
JD Sports Fashion continues European expansion with completed acquisition of Poland’s MIG January 18, 2024 JD Sports Fashion has completed the acquisition of a 40 per cent stake in a Polish investment group as it pushes into European markets.
Currys confident profits will beat forecasts despite slipping sales over Christmas January 18, 2024 Electrical retailer Curry’s said group profit before tax is expected to be ahead of expectations, despite sales falling over the Christmas period.
Sainsbury’s to shutter banking division in ‘food first’ strategy push January 18, 2024 Sainsbury's will undertake a "phased withdrawal" from its banking efforts, the supermarket giant confirmed this morning.