Burberry shares plunge to a 14-year low, but what’s behind the collapse? August 16, 2024 Once a beacon of British heritage and craftsmanship, Burberry’s recent decline has been striking. Shoppers and investors seem to have fallen out of love with the retailer. Sales have plunged, and Burberry shares have fallen 70 per cent over the past year. Earlier this week, the stock touched a 14-year low before rebounding. While the [...]
Revolut achieves $45bn valuation in employee share sale August 16, 2024 Revolut has cemented its position as Europe's most valuable private technology company after securing a $45bn (£34.9bn) valuation in a share sale by employees.
UK retail sales tick up in July after summer discounts and Euros boost August 16, 2024 Friday's data is among a raft of economic figures released this week that will provide key indicators for Bank of England policymakers as they decide whether to cut interest rates in September.
Harley-Davidson: Iconic motorbike brand riding high as profit surges despite sales slump August 15, 2024 The UK arm of the iconic motorbike brand Harley-Davidson has seen its profit surge despite a dip in revenue, thanks to a reduction in its production costs, according to newly-filed documents. The US brand, which runs its UK division from its headquarters in Oxfordshire, saw its pre-tax profit soar to €31m (£26m) in 2023, up [...]
Ultimate Products: Russell Hobbs seller hit by overstocking woes August 14, 2024 Consumer goods giant Ultimate Products, which owns Britain’s oldest homeware brand Salter and sells certain Russell Hobbs items under license, has seen its profit dip after supermarket overstocking issues. The London-listed group, which is headquartered in Oldham, reported an adjusted pre-tax profit of £14.5m in the 12 months ending July 30, 2024, down from £16.8m [...]
Bowling and gyms the surprise winner as Brits look for affordable fun in sporting summer August 14, 2024 The cost-of-living crisis may have started to tail off slightly, but it hasn’t gone away completely, as Brits chose affordable attractions during the summer. Amusement parks, aquariums and gyms topped the list of activities as school break got into full swing during a bumper summer for sport, according to data from Revolut, which tracked the [...]
Aviva: Profit and sales jump at FTSE 100 giant as UK premiums surge August 14, 2024 Insurance giant Aviva reported that sales, operating profit and dividend were all up for HY 2024 as the group generated over £6bn in general insurance premiums
Hammerson: Shopping centre giant secures refinancing for leading Dublin retail hub August 14, 2024 Shopping centre giant Hammerson arranged a €350m (£300m) loan for one of Ireland’s leading retail destinations, Dundrum Town Centre. The deal has been agreed with Pimco Real Estate, with its existing loan due to mature next month. Hammerson’s share of the new loan, which is repayable by September 2031, was €175m (£150m) with lenders for [...]
PwC: UK media market set to overtake Germany as largest in Europe August 14, 2024 The UK is on track to dethrone Germany as Europe’s largest entertainment and media market next year, driven by a surge in internet advertising and a resurgence in cinema and live music, according to new PwC data. Despite a sluggish recovery from a flat 2023, the UK’s entertainment and media sector is forecast to exceed [...]
Selfridges’ new chief faces an uphill battle August 13, 2024 Selfridges’ new CEO, André Maeder, has his work cut out for him. The company has managed to survive the gruelling pandemic years – largely by cutting jobs and moving online – a tough cost-of-living crisis and an acquisition in 2022. But seasoned retailer Maeder, who was officially announced two weeks ago and starts in November, [...]