Wickes returns to growth but warns pent up DIY demand is easing October 22, 2024 Home improvement firm Wickes reported it had returned to growth over the summer today but warned its sales were likely to wane as pent up DIY demand eases in the coming months. The London-listed retailer reported a 2.1 per cent growth in revenue, or 0.4 per cent on like-for-like metrics, with retail revenue growing by [...]
Sir Rocco Forte leads 300 business leaders in call to scrap ‘spectacular own goal’ tourist tax October 21, 2024 Over 300 business leaders have signed a letter asking Chancellor Rachel Reeves to reinstate tax-free shopping in the UK, calling the so-called tourist tax a “spectacular own goal” for retail. The signatories, which include hotelier Sir Rocco Forte, Paul Smith, Heathrow, John Lewis and Shakespeare’s Globe, have said that if Reeves is serious about promoting [...]
‘Tis the season: Festive spending to boost London’s West End October 21, 2024 Festive spending in London's West End is expected to reach £1.7bn, with international tourists set to push sales up by 3.2 per cent in the run up to Christmas.
Meet the fund managers: Empowering growth in small UK companies October 21, 2024 In the final edition of this weekly series, investment reporter Elliot Gulliver-Needham sits down with a fund manager for a Q&A. This week, we’re hearing from Georgina Brittain, manager of the JPMorgan UK Small Cap Growth & Income How does your fund stand out from others in the same market? What really sets us apart [...]
Costa Coffee in the red despite sales success October 18, 2024 Costa Coffee fell into the red despite its revenue rising by more than £100m in 2023, it has been revealed. The Buckinghamshire-headquartered business, which is owned by Coca-Cola, has reported a pre-tax loss of £9.6m for its latest financial year. The loss comes after the firm posted a pre-tax profit of £245.9m in 2022. Newly-filed [...]
Mothercare continues to struggle but announces fresh financing October 18, 2024 Baby products brand Mothercare has reported a drop in sales as it continues to struggle with post-pandemic demand, but has said its new deal with Indian giant reliance will help to shape a turnaround. The retailer said the decline was mainly due to “continuing challenges” in Middle East markets. It told markets this morning that [...]
AIM chief: It will be painful, but we’ll survive Reeves’ tax raid October 17, 2024 While scrapping the inheritance tax relief on AIM shares would be "unnecessary and painful", London's junior market will survive if the change is implemented, the exchange's chief has said.
South Bank’s ‘The Slab’ in spotlight as campaigners fight planning decision October 16, 2024 South Bank 'The Slab' is the topic of a legal battle at court this week as campaigners seek to overturn the former government's decision to green-light redevelopment
London Underground workers in Aslef and RMT vote to strike next month October 16, 2024 London Underground drivers will walk out next month, bringing chaos to the capital in a protest over pay and working conditions. Members of the Aslef union voted overwhelmingly to walk out on a number of dates in November, before RMT members backed strikes shortly after. Train operators and management grades will not work on 7 [...]
Vertu Motors: Profit at car dealership giant falls as UK sales stall October 16, 2024 Profit at car dealership Vertu Motors reversed during the first half of its financial year as UK sales of new cars stalled. In interim results filed with the London Stock Exchange, Gateshead-headquartered Vertu Motors reported a pre-tax profit of £22m for the six months to 31 August, 2024, down from the £30.1m it achieved in the [...]