Dunelm warns of ‘significant headwinds’ but maintains profit guidance April 14, 2022 Dunelm’s boss warned of increasing financial pressures on shoppers but said the company’s variety of products would help it continue to grow. In an update on the London Stock Exchange, the homeware retailer said it hit £399m in total sales in its third quarter. This was up 69 per cent on the year prior, when [...]
Supermarkets drag down London indexes on spending jitters April 13, 2022 London’s top indexes were muted today as investors ditched shares in supermarkets despite Tesco posting bumper profits. The capital’s premier FTSE 100 index edged 0.05 per cent higher to 7,580.80 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dipped 0.12 per cent to 20,984.45 [...]
Sainsbury’s and Waitrose ‘investigating as a matter of urgency’ after worker at sushi supplier has finger tips cut off April 13, 2022 Waitrose and Sainsbury’s are investigating “as a matter of urgency” after a worker had finger tips chopped off in Taiko Foods’ factory, which supplies sushi to the retailers. The retailers are looking into the incident, in which Viraj Kakadia operated reportedly unsafe and dangerous vegetable cutting machine at the Taiko Foods factory in Acton. The [...]
City Moves: Who’s switching jobs in the Square Mile? April 13, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. LHV UK Fintech and crypto banking services provider LHV UK has bolstered its board with an independent non-executive director. Stepping onto the board at the beginning of May, Keith Butcher joins the City based firm with a raft [...]
Spending cool down weighs on London-listed supermarkets April 12, 2022 Early signs of consumers pulling back on spending drove supermarkets lower today in the City, dragging down London’s top indexes. The capital’s premier FTSE 100 index dropped 0.55 per cent to 7,576.66 points, while the domestically-focused mid-cap FTSE 250, which is more aligned to the health of the UK economy, fell by the same amount [...]
LVMH continues to ride cash-splurging wave for luxury goods as revenue jumps a third April 12, 2022 LVMH has continued to ride the pandemic-era wave of consumers splurging extra cash on luxury goods, as opposed to jetting away overseas. Revenue jumped nearly a third to €18bn (£15bn) in the first quarter of this year, in comparison with €13.9bn in 2021 – with fashion and leather products leading the way. Such goods hit [...]
The City View: Victoria Scholar on rising prices, unemployment and retail sales data; and XR cause Lloyd’s of London HQ shutdown April 12, 2022 Today Andy Silvester talks to Victoria Scholar, Head of Investment at Interactive Investor. They go through some of the week’s economics data on GDP, unemployment, retail sales, and talk trading updates. They discuss the latest from ASOS, Deliveroo, and EasyJet: ASOS is facing a raft of headwinds, as investors lose confidence in the online retailer; [...]
Interview: Premiership Rugby chairman Phillips insists on high standards April 12, 2022 Ealing Trailfinders were last weekend confirmed as the winners of English rugby’s second tier, the RFU Championship. So why haven’t they been confirmed as the 14th Premiership side? Well, because they have been deemed to have failed to meet certain criteria relating to infrastructure, the London-based club have been denied their chance to join the [...]
Regulators raise concerns as investors swap shares for crypto April 11, 2022 Natwest has revealed more of its customers invest in crypto than shares, as the popularity of digital assets continues to soar.
Mothercare delays pension deficit payments after disruption of Russian operations April 11, 2022 Mothercare said it would be posting a higher than expected profit on Monday. In a pre-close trading update, the baby-clothes seller said it expected that EBITDA before adjusting items would be in the range of £11.5m to £12m for the year to 26 March. The retailer’s share price fell by a dramatic seven per cent [...]