Superdry issues warning as struggling fashion label cuts jobs after quitting London November 20, 2024 Superdry has warned its sales will continue to fall significantly during its current financial year after quitting the London Stock Exchange in an attempt to stay afloat. The Cheltenham-headquartered fashion brand delisted earlier this year as part of a radical restructuring plan to keep the company trading. At the time, the company said that cutting [...]
Lidl boss warns retailers are ‘reeling’ after Budget tax raid November 20, 2024 The boss of budget supermarket Lidl has warned retailers are “reeling” following Labour’s tax raid in the Autumn Budget. The German supermarket’s UK boss Ryan McDonnell said the discount brand was staring down the barrel of “tens of millions of pounds” in extra costs. This comes after the Chancellor unveiled a £25.7bn tax-raising package, with [...]
British Land ups guidance amid pivot into retail parks November 20, 2024 Property giant British Land has upped expectations for the year as the group continues its push into retail parks. In its half-year results for the six-month period to 30 September, which were published this morning, the real estate investment trust upped its outlook for earnings per share from 27.9p to 28.1p. Meanwhile, the group’s EPRA [...]
Plans worth £200m revealed by Imperial College London and Bruntwood SciTech November 20, 2024 Imperial College London is to build a life sciences and deep tech development worth over £200m in the west of the capital after partnering with Bruntwood SciTech. The university has earmarked land at its White City Deep Tech Campus after signing an agreement with the joint venture between property group Bruntwood, Legal & General and [...]
Abrdn shakes up top team in turnaround push November 19, 2024 Abrdn’s new chief executive Jason Windsor has revamped his leadership team today as part of efforts to breathe life into the beleaguered asset manager after years of sluggish performance. In an statement today, the vowel-stripped FTSE 250 investment house revealed it had promoted its client head, Xavier Meyer, to chief of investments, and Richard Wilson, [...]
Revolution Beauty struggles with excess stock as turnaround on horizon November 19, 2024 Revolution Beauty reported another drop in revenue after a tricky few years, although it is eyeing 2025 for a resurgence with its ‘core’ groups of brands. Group revenue fell 20 per cent, driven by the “planned simplification of the product portfolio and the discontinuation of unproductive SKUs [stock]”, Revolution said. It said revenue growth from [...]
The ‘perfect storm’ is upon us — Britain needs more start-up support November 18, 2024 The largest annual festival of entrepreneurship and start-up events in the world is officially upon us, with a “perfect storm” paving the way for this year’s celebrations in Britain. Global Entrepreneurship Week is traditionally a moment of celebration in Britain — five days a week where budding entrepreneurs and wealth makers come together to support [...]
Let’s celebrate great British start-ups November 18, 2024 Global Entrepreneurship Week is a chance to sing the praises of our start-ups and strengthen the foundations for them to succeed, says Timothy Barnes Today is the start of Global Entrepreneurship Week, the world’s largest festival for entrepreneurs and startup supporters. In nearly 200 countries around the world, some 40,000 events are expected to welcome [...]
Mike Ashley’s empire tightens grip on Boohoo as crunch vote nears November 15, 2024 Mike Ashley’s Frasers Group has continued to up its stake in Boohoo as a war of words over the future of the fast-fashion giant rumbles on. The owner of the likes of Sports Direct and House of Fraser now has a 28 per cent stake in the Manchester-headquartered group, which itself features brands such as [...]
Has London’s commercial property market finally recovered from the pandemic? November 15, 2024 High-quality office space in London has “continued and sustained appeal” in London, with property take-up finally exceeding pre-pandemic levels, while retail vacancy rates have similarly dipped to their lowest level since 2019. Cushman & Wakefield and Savills have both reported that the central London property market has begun to stabilise, while British property investment trust [...]