Next upgrades guidance again as the company welcomes ‘new phase’ September 19, 2024 Retail industry bellweather Next has upgraded its guidance by £15m after sales and growth “exceed expectations”, while it vies for £1bn in profit. The retailer upgraded the profit guidance it issued on 1 August by £15m, to £995m, “as a result of the strength of our full price sales over the last six weeks”. This [...]
A car-free Oxford Street does sound dreamy, but there’s a problem: buses September 19, 2024 An Oxford Street with no cars is a charming fantasy. But ignore the "red wall of metal" at your peril, writes James Ford
Train drivers accept £9K pay deal to end two years of UK rail strikes September 18, 2024 Train drivers on Wednesday voted to accept a new pay deal, bringing to an end a two-year industrial dispute over pay and conditions.
How Brits turning to ‘luxury that lasts’ has helped sale surge at The Cotswold Company September 18, 2024 In just five years, The Cotswold Company has more than doubled its revenue, a milestone that CEO Ralph Tucker believes signals a shift in how British consumers are prioritising their spending. Based in Norwich, the premium furniture brand has long been favoured by fans of quiet luxury, but has seen a surge in new customers [...]
Mohsin Issa to step away from Asda as search for CEO continues September 18, 2024 Supermarket giant Asda has announced that Mohsin Issa will step away from his executive leadership role to focus on his position as sole chief executive of petrol forecourts business, EG Group. Lord Stuart Rose will assume Mohsin’s responsibilities alongside TDR Capital partner Rob Hattrell, the Leeds-headquartered grocer said, while Mohsin Issa will remain a co-owner [...]
Footasylum: New flagship Oxford Street store helps profit more than double September 18, 2024 Pre-tax profit more than doubled at footwear and sportswear retailer Footasylum during its latest financial year. The Greater Manchester-headquartered company has reported a profit of £6m for the year to 27 January, 2024 , up from the £2.8m it posted for the prior 12 months. During the year Footasylum opened a flagship 20,000 sq ft Oxford Street [...]
Knoops: Drinking chocolate chain eyes £5m boost after more than doubling sales September 17, 2024 Knoops is looking to raise an extra £5m to fuel its continued expansion in the aftermath of its revenue more than doubling during its latest financial year. The London-headquartered drinking chocolate chain has reported a revenue of £9.3m for the year to 31 March, 2024, up from the £4.4m it posted for the prior 12 [...]
US retail sales rise ahead of Fed’s interest rate decision September 17, 2024 July's figures were also revised up to show a 1.1 per cent gain having previously been estimated at 1.0 per cent increase.
Revolut readies for India launch in 2025 amid aggressive expansion September 17, 2024 Revolut is planning to launch in India next year, targeting top-tier consumers in the world’s most populous nation as part of aggressive expansion efforts. The London-based banking app is eyeing up a slice of India’s lucrative fintech market, which serves millions of consumers within its growing middle class who previously had limited access to financial [...]
Allsaints: Record year for fashion brand despite retail decline September 17, 2024 Fashion brand Allsaints achieved another record year after a boost to its wholesale, franchise and licensing revenue offset a fall in its retail performance. The London-headquartered company has posted a total revenue for the year to 3 February, 2024, of £459.5m, a rise of 0.6 per cent compared to the prior 12 months. Its wholesale, [...]