Wilko: ‘Genuine grounds for hope’ over future of troubled retailer as possible buyers circle August 18, 2023 There are “genuine grounds for hope” over the future of stricken retailer Wilko after interest from potential suitors, the GMB union has said. The retailer tumbled into administration last week, putting the future of its 400 shops and 12,500 workers at risk. Administrators from PwC swiftly sought offers from potentially interested firms which could save [...]
July washout drags retail sales down 1.2 per cent as supermarkets and high street hit August 18, 2023 July’s awful weather dragged down UK retail sales by 1.2 per cent, as supermarkets suffered the most from the washout with Brits not splashing cash on food and clothes. The latest figures from the Office for National Statistics (ONS) show retail sales volumes in July went down following a small rise of 0.6 in June, [...]
Lionesses shirt sales surge 700 per cent ahead of Women’s World Cup final August 17, 2023 The Lionesses’ success at the Women’s World Cup has seen sales on England shirts and other merchandise rocket by more than 700 per cent, new consumer data has revealed. Online sales soared by 710 per cent above average daily levels on Wednesday in the aftermath of England’s 3-1 semi-final victory over Australia, according to figures [...]
Birkenstock UK profits stumble as brand preps for £8bn IPO August 17, 2023 Birkenstock’s UK arm reported a drop in profits for the year but its sales continued to soar. The German business, whose stripped-back shoes are sometimes called ‘Jesus Sandals’, said total turnover reached £34m in the year ended September 2022 up from £23m in the same period the prior year. Full year retail revenues also more [...]
Aldi on the hunt for 1,700 new staff members as demand for value goods grow August 17, 2023 Aldi is looking to hire 1,700 more warehouse staff this year as the grocery discounter steams ahead with its UK expansion plans. The German value retailer is ramping up the number of full-time and part-time positions at its Regional Distribution Centres and employees will be offered salaries of up to £53,000 per year. Its hiring [...]
Wilko rumour mill: B&M shares up as takeover whispers gather volume August 15, 2023 Wilko has fallen into administration but rumours are flying that fellow discounters could be circling the stricken retailer
Pandora raises revenue guidance off the back of strong growth August 15, 2023 Pandora has raised its full year revenue guidance following a strong performance in the second quarter of the year. The Danish Jewellery maker, best known for its charm bracelets, said today that it expects organic sales growth for the year to be in the range of two per cent to five per cent, up from [...]
FTSE 100 close: Wage growth fuels rate fears as M&S soars and B&M drops on Wilko speculation August 15, 2023 London’s FTSE 100 ended Tuesday down more than 1.6 per cent, as record-breaking wage growth fueled speculation of a 15th straight Bank of England rate hike. The capital’s blue-chip index was down 1.63 per cent by close of play to to 7,384.94, weighed down by listed investment firm Abrdn, down three per cent, alongside Pheonix [...]
Red China: Economy indicators turn south as China stops reporting young unemployment August 15, 2023 A broad array of Chinese data on Tuesday highlighted intensifying pressure on the economy from multiple fronts, prompting Beijing to cut key policy rates to shore up activity but analysts say more support is needed to revitalise growth. Less than an hour before the release of a batch of July data, China’s central bank unexpectedly cut key [...]
Grocery price inflation drops sharply to 12.7 per cent August 15, 2023 Grocery price inflation saw its second sharpest fall since 2008, falling 2.2 percentage points to 12.7 per cent for the four weeks to 6 August, new data shows. While food prices are still rising, some goods actually became cheaper, with shoppers paying £1.50 for four pints of milk, down from £1.69 in March, and a [...]