Tesco pledges an ‘affordable Christmas’ as it raises profit guidance on slew of price cuts October 4, 2023 Tesco raised its profit guidance for the year ahead to up to £2.7bn, as the Big Four grocery thanked a slew of price cuts for surging revenues in its interim results. Britain’s biggest grocer’s adjusted operating profit reached £1.48bn during the term, a 13.5 per cent leap when compared to the same period the prior [...]
Boohoo warns of further sales falls as tough buyer market takes its toll October 3, 2023 Fast fashion giant Boohoo’s said its revenues fell by 17 per cent in the six months to August to £729m, and warned of further sales falls in the year ahead. The online shopping brand, which has been undergoing a turnaround plan, said that in the year ending February revenues could slip by between 12 to [...]
Aussies hit pause again as global rate hike race appears over October 3, 2023 The Australian Central Bank appears to have brought to an end its aggressive rate hike cycle
‘His pledge is in tatters’: Khan slammed over tube strikes as London faces £62m hit October 2, 2023 Greater London Authority’s Conservatives have slammed Sadiq Khan ahead of fresh disruption on London’s tube network this week, as the mayor’s commitment to halting industrial action during his tenure comes back to haunt him. “Sadiq Khan pledged that there would be zero strikes under his mayoralty but he has the worst strikes record of any [...]
Tourism tax: Heathrow sees rise in Chinese visitors — but they are not splashing the cash October 2, 2023 Chinese visitors have returned to numbers close to those before the pandemic — but they are not spending like they used to. Heathrow has reported that Chinese visitor numbers were at 88 per cent of 2019 levels in July, but the airport said their spending at its shops was only 33 per cent of what [...]
Sharon White: What went wrong at John Lewis — and who might pick up the pieces? October 2, 2023 Appointed with no retail experience, Sharon White's time at the top of John Lewis will come to an end after just five years
Predictions of death of the high street ‘overstated’, says John Lewis October 2, 2023 Predictions of the death of the high street have been “overstated”, John Lewis has said, as it announced its proportion of sales being made online has fallen and store visits are up.
Victoria Plum sold in pre-pack administration deal to owner of Beds.co.uk October 1, 2023 The owner of Beds.co.uk and furniture seller Cox & Cox has reportedly snapped up Victoria Plum, one of the UKs biggest online bathroom retailers.
China: Manufacturing activity returns to expansion amid hopes economy is stabilising September 30, 2023 China's factory activity expanded for the first time in six months in September, an official survey showed on Saturday, adding to a run of indicators suggesting the world's second-largest economy has begun to bottom out.
Eurozone inflation falls to lowest level in two years in sign the ECB’s rate hikes worked September 29, 2023 Inflation in the euro zone fell to its lowest level in two years in September, suggesting the European Central Bank's steady diet of interest rate hikes was succeeding in curbing runaway prices albeit at a growing cost for economic growth.